I will not, because we do not have time and others wish to speak.
Because of pandering to the green lobby and unachievable targets, oil and gas companies face punitive tax rates such as the 50% corporation tax rate and a 35% windfall levy. As the war in Europe has reminded us, energy security is paramount. Over-reliance on supply from overseas has left many countries—not just us—vulnerable to fluctuation in prices and supply. Regrettably, we are a long way from ending our reliance on fossil fuels, so surely it is common sense to encourage investment here at home, not to increase our carbon footprint by importing from abroad.
Before I conclude, I must mention defence. While the extra £11 billion over five years is to be welcomed, it is not nearly enough, with little—if any—of that money going to our conventional forces. This at a time when the world is increasingly unstable. Arbitrary figures for defence spending plucked out of thin air by both sides demean our armed forces and us in the House. In the face of some very real threats, a thorough appreciation needs to be undertaken and the defence budget set accordingly. To be an effective NATO partner, we need the mass to sustain a prolonged and major confrontation. Right now, we do not have it.
I conclude on a point of caution. As I hinted strongly at the start of my speech, this over-reliance on Government to provide the solution to everything must stop. It is simply unsustainable. Our Conservative Government would do well to recall the words of JFK in his inaugural address:
“Ask not what your country can do for you—ask what you can do for your country.”