OGUK Welcomes Chancellor's Plans

OGUK Welcomes Chancellor's Plans
Industry body Oil & Gas UK has initially welcomed the winter economy plans announced on Thursday by the UK Chancellor of the Exchequer.

Industry body Oil & Gas UK (OGUK) has revealed that it has initially welcomed the winter economy plans announced on Thursday by the UK Chancellor of the Exchequer.

“[Thursday’s] announcement will be helpful to our sector and the thousands of people it employs across the country,” OGUK Chief Executive Deirdre Michie said in an organization statement.

“We welcome the principle of support provided by the Chancellor … and will be pressing for more detail regarding eligibility for our supply chain, which remains in a fragile condition,” Michie added.

In a statement posted on the organization’s website, the OGUK chief executive noted that to increase activity levels in the industry it needs to be able to get more people working without compromising on the health and safety of its people.

“We continue to have conversations with government about the best way to do this so that we can quickly accelerate maintenance programs and other activity as soon as possible,” Michie stated.

“Facing a winter of uncertainty, focus must also remain on the prize of securing a green recovery which puts the essential expertise of our industry to work in building the solutions we need to meet our climate ambitions,” Michie added.

“Through a green recovery, a North Sea Transition Deal and continued support for our industry, we can help keep costs low for households and families, retain jobs and create new roles for the future,” Michie went on to say.

On Thursday, Chancellor Rishi Sunak outlined additional government support for businesses and workers impacted by the coronavirus across the UK. The package includes a new jobs support scheme, an extension to the self-employment income support scheme and help for businesses in repaying government-backed loans.

“The resurgence of the virus, and the measures we need to take in response, pose a threat to our fragile economic recovery” Sunak said in a government statement.

“The primary goal of our economic policy remains unchanged - to support people’s jobs - but the way we achieve that must evolve,” he added.

Commenting on Sunak’s latest plans, Carolyn Fairbairn, the Confederation of British Industry Director-General, said, “these bold steps from the Treasury will save hundreds of thousands of viable jobs this winter”.

The British Chambers of Commerce Director General, Adam Marshall, said, “the measures announced by the Chancellor will give business and the economy an important shot in the arm”.

“Chambers of Commerce have consistently called for a new generation of support to help preserve livelihoods and ease the cash pressures faced by firms as they head into a challenging and uncertain winter,” he added.

“As we look past the immediate challenge, more will need to be done to rebuild and renew our economy. Chambers of Commerce across the UK will continue to work with government to ensure the benefits of these schemes are delivered to firms on the ground,” he added.

To contact the author, email andreas.exarheas@rigzone.com


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.