Shadow climate change secretary Ed Miliband has said the government is 'rattled' and described Kwasi Kwarteng's letter to companies as 'not worth the paper it is written on'
Shadow climate change secretary Ed Miliband has said the government is"rattled" and described Kwasi Kwarteng's letter to companies as"not worth the paper it is written on".The government has put pressure on North Sea oil and gas companies to invest profits into domestic production
North Sea oil and gas companies have come under pressure from the government to invest their profits into accelerating domestic energy production as millions of Britons continue to face soaring energy prices.has written a letter to firms calling for them to provide a clear plan to spend their profits on improving production in the UK.
He has also ordered the industry to set out proposals for clean energy investments in a meeting that is due to be held in the coming weeks.continuing to hit Britons, ministers have not been given any fresh funding to ease the pressure on families. Writing in his letter, Mr Kwarteng argued that home-grown energy production is essential to grow the British economy and"crucially bring down consumer bills in the long-term"."In return for the UK government's ongoing support for the sector, the prime minister, the chancellor and I want to see a very clear plan from the oil and gas industry to reinvest profits in the North Sea and, importantly, in the clean energy technologies of the future," he wrote.
However, Labour has criticised the move, saying the letter is"not worth the paper it is written on" for the millions of people facing rising costs.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New Labour still casts a dark shadow over Britain🗣️Overwhelmed by Mr Blair’s charisma, a new generation of Tory MPs concluded that the only way to beat the Blairites was to join them
Read more »
Ministers pressure North Sea oil and gas firms to invest profitsSoaring energy bills is one of the major problems the Government is battling to alleviate.
Read more »
UK remains ‘world leader’ in hiding dirty money, says top sanctions expertExclusive: Government must bring in law to tackle oligarchs’ London ‘enablers’, says Bill Browder
Read more »
Kwarteng urges Shell and BP to invest in Brexit Britain after Sunak's windfall tax threatKWASI KWARTENG has urged energy companies Shell and BP to invest in the UK after Rishi Sunak issued a windfall tax threat on profits.
Read more »
‘Some bad apples’: senior Tory minister denies institutional misogynyUK government faces growing pressure to tackle sexual misconduct in Westminster as Kwasi Kwarteng rejects idea of inherent sexism
Read more »
‘Some bad apples’: senior Tory minister denies institutional misogynyGovernment faces growing pressure to tackle sexual misconduct in Westminster as Kwasi Kwarteng rejects idea of inherent sexism
Read more »