Forbes demands oil and gas tax reform in budget – Daily Business

Kate Forbes: this is not as good as it gets

Kate Forbes today called on the Chancellor to drop the windfall tax on oil and gas companies as she used her final address to the SNP annual conference to argue that the party has provided the leadership that can underpin an independent state.

The deputy First Minister accused Labour of following “the decades-old pattern of exploiting Scotland’s energy revenues by extending and increasing the Tories’ Energy Profits Levy, making hundreds of workers redundant and creating an unjust transition.”

She added: “In a classic move by this Labour Government, they accept the 78% tax rate is costing jobs – but they won’t do anything about it for another five years. 

“So we call on the Chancellor today –  don’t wait, replace the destructive fiscal regime at the next Budget with a fair one. One that protects workers and enables the energy transition.”

From energy renewal and investment in technology, to free travel and rescuing bus company Alexander Dennis, Ms Forbes said the SNP government was “laying the foundations of an independent Scotland” that could emulate the success of other small nations. 

“With the limited powers of devolution, the SNP has always tried to deal with the immediacy of the economic challenges, while also focusing on long term opportunities,” she said.

“While the Unionists want to limit Scotland’s ambitions with a parochial focus on a broken UK economy, our horizons are broader.  We look beyond our borders to the small, agile, independent economies like Ireland, Denmark and Finland. Countries which thrive, while the UK languishes behind. 
 
“These nations show us what is possible for Scotland.  They are a vision of Scotland’s future, while Westminster is the shadow of the past. 

“Conference, this is not as good as it gets.”  

She added: “In 2014, we were told that Scotland couldn’t afford to be independent.  Conference, I tell you today that we can’t afford not to be independent.

“And this time, our economic prosperity must not be squandered by a distant UK Government.  This time our success must be shared; our wealth must leave nobody behind; our future must be better than our past.  

“Conference, if only we could just see ourselves as the rest of the world does, we would have all the self-belief and self-confidence we need to choose independence.”   

Ms Forbes, who is not seeking re-election next May in order to focus on her young family, declared Scotland “home to Scotland’s brightest and best workers” but said “billions of pounds in tax revenues generated here have bankrolled the UK Treasury for years.  

“Those tax revenues, frittered away on unjust wars and pet projects, rather than invested in future generations. 

“We don’t need to ask ‘what if’ it had been different?  Because a stone’s throw across the North Sea, Norway’s oil fund is estimated at just over $2 trillion dollars.  

“In Norway, child poverty is low.  Welfare support is fair.  They can weather economic instability. 

“Meanwhile, what’s happened here, in the energy capital of Europe, in the last year under Labour?  Higher fuel bills for you and me. Cuts to welfare support for disabled people. And months of worry for pensioners in fuel poverty.  What a contrast to other small independent nations.

“We can write a better future – one that will not tolerate fuel poverty in an Energy-rich nation like ours.   But we can only do that, with independence.” 

She said that “while other parties look backwards, we are looking forwards.  

“Conference, that is leadership.  We are leading the world in the innovation, technology and commercialisation of renewable energy.  

“Let us be clear with the Labour Government today – Scotland will not be the UK’s nuclear playground.  Just last week,  we saw, for the first time global renewable energy generation surpassing coal as the world’s biggest source of electricity. 

“And I am clear that in Scotland our natural resources – our wind and water – must deliver benefits for every Scottish citizen.

“Much of the opportunity is in the supply chain – in the small and medium Scottish businesses and the ports and harbours at the heart of our communities.  

“That is why we are investing £500 million in the supply chain, leveraging three times that much from the private sector.” 

Ms Forbes said the SNP was showing leadership through its investment in a subsea cable plant in Ayrshire and port facilities in Kishorn and in Ardesier, the preferred location for one of the biggest wind turbine manufacturing plants in Europe.  

She made no mention that Ardesier’s expansion will be backed by Chinese investment which has prompted widespread concern, not least from the Ministry of Defence.

She said Labour’s ambition for Scotland was for it “to be more like England” but said GDP per head in Edinburgh is higher than in London and GDP in Greater Glasgow is higher than in Greater Manchester. 

“I hate to break it to Labour, but trying to be more like England would actually make Scotland poorer,” she said.

She said that companies need workers and “for the sake of our values and the sake of our economy, the SNP totally and utterly rejects the depressing, denigrating narrative against migration. 

“We need people to come here, and we need them to contribute to our society, our communities, and our economy.” 

She closed her final address by saying her “dream job” was always to serve as Minister for Gaelic.

“And one of my last acts in Government has been establishing both Gaelic and Scots as official languages through the Scottish Languages Act.  

“If anything symbolises our journey as a nation it is the increasing self-confidence of Gaelic speakers. 

“The SNP has always believed in the talents and creativity of our people.  

“We don’t believe that we are any better than other independent nations,  but we do believe that we are just as good. “

#Forbes #demands #oil #gas #tax #reform #budget #Daily #Business

Leave a Reply

Your email address will not be published.