: Here is the thing: all
CEOs of businesses are saying there is only one party with a plan
for growth, and it is this party here. There is one party that
broke the economy, and its Members are sitting on the Government
Benches. On energy bills, it is not as complicated as the Prime
Minister pretends. Oil and gas companies are making vast,
unexpected profits while working people face the misery of higher
bills. He can boast all he likes, but companies
like Shell did
not pay a penny in windfall tax last year, and they are still not
paying their fair share now. Why does he not admit his mistake,
get rid of the loopholes in his botched windfall tax and finally
choose family finances over oil profits?
The Prime Minister: The right hon. and learned Gentleman
seems to forget that, as Chancellor, I introduced a new tax on
energy companies. Energy companies will pay a 75% tax rate on
extraordinary profits comparable to—indeed, higher than—other
North sea nations. That is what his shadow Levelling Up Secretary
recently called for, but I have good news for them: we did it a
year ago. They have to keep up. I know they claim to support
levelling up, but they really need to keep up.
: The Prime Minister
introduced a tax on Shell and
it has not paid a penny—fantastic work! If he were serious about
investing in the future of the country, he would start with
housing. A few months ago, his Back Benchers forced him to scrap
house building targets. At the time, he stood there and said it
would mean the Government would build more homes. Well, would you
believe it? A few months later, the Home Builders Federation say
house building will fall to its lowest level in 75 years. He can
change course on this. He can bring back targets and planning
reforms, or he can duck that fight and let a generation down.
Which is it?
The Prime Minister: Actually, we have had record high
numbers on house building and, indeed, the highest number of
first-time buyers in around 20 years under this Government. The
right hon. and learned Gentleman talks about investing for the
long term of our country, and that is important when it comes to
energy security, but Labour’s policy is to oppose any new oil and
gas licences in the North sea. It is an absurd policy that would
see us paying billions to countries abroad for our energy, while
shipping it here with twice the carbon emissions. It is typical
political posturing. It is bad for the economy; it is bad for our
security—just like the Labour party.