Meeting of the Parliament 06 December 2016
I live in Aberdeen. I have worked there—predominantly in advising the energy sector—for more than 13 years. I am now privileged to represent it as part of the North East Scotland region, and have spent a great deal of time since being elected seeking to understand in ever-greater depth its energy needs and energy delivery.
The city has grown rich thanks to North Sea oil and gas. Until recently, it had the highest concentration of millionaires in the UK outside London and it boasted an unemployment rate below 2 per cent. In 2009, as the rest of the country suffered under Labour’s great depression, it proudly declared, “No recession here.”
Times have been tough of late, however. Oil & Gas UK estimates that 40,000 jobs have gone from the industry. Hotel takings are down 50 per cent and visitors through Aberdeen airport are 20 per cent lower year on year. Mortgage arrears have spiralled to double the national level and could rise further as unemployment increases, as the EY report stated yesterday. All that has happened despite the UK Government’s considerable support. In welcoming the autumn statement, Oil & Gas UK said:
“We are pleased to hear the Chancellor re-commit to HM Treasury’s Driving Investment plan today.”