A WARNING has been issued that the next UK Government will have just 100 days to save 100,000 jobs in the North Sea energy sector as companies…
AGCC chief executive Russell Borthwick said the 'next government has just 100 days to convince industry that there is a future in the UK continental shelf'
The AGCC is also making fresh calls for an independent body, free from political influence, to oversee the energy transition. It says that like the Bank of England – which has maintaining monetary and fiscal stability as its central mission – the new body should be charged with developing recommendations which could command cross-party consensus and insulate the sector from policy shocks in the future.
Tax, political environment and market stability are the three biggest concerns facing companies based in the UK energy sector; All companies are facing acute recruitment challenges, with half of firms losing more people than usual to retirement. A third are losing more staff than usual to overseas projects.
“Should this transpire, our path to net zero could look more like a road to nowhere. A road that leaves the UK poorer, less energy secure, and beholden to foreign regimes for the energy we need to keep the lights on and our “The brutal reality is you can’t have a transition to net zero if you destroy existing jobs and force workers to take on jobs elsewhere.”
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