Tories challenged to 'Hand Back' North Sea profits to Scotland

The SNP has challenged the UK government to match the Scottish Government's £500million just transition fund and bring energy bills down for people in Scotland - as BP becomes the latest energy company to record higher than expected profits.

With BP posting profits of £4billion for the first three months of the year, SNP Economy spokesperson Stewart Hosie MP said the Tories must "hand north sea oil and gas profits back to Scotland, instead of hoarding them at Westminster".

Commenting, SNP Economy spokesperson Stewart Hosie MP said:

"With energy companies reporting bumper profits, the Tories must hand north sea oil and gas profits back to Scotland, instead of hoarding them at Westminster.

"Scotland is an energy rich country - and it's utterly shameful that, under the Tories, millions of Scottish families are being forced to pay through the nose for energy bills, while the Westminster Treasury reaps the benefits of Scotland's energy wealth.

"The money raised through the windfall tax on oil and gas companies must be reinvested in Scotland. The UK government must use it to bring down energy bills in Scotland and finally match the Scottish Government's £500million just transition fund.

"The Tories and Labour Party are both guilty of taking billions from Scotland's energy wealth and failing to reinvest it in our communities - with Keir Starmer admitting today he would use Scotland's energy wealth to fund a council tax freeze in England.

"The time for excuses is over. Westminster must reinvest Scotland’s energy wealth back into Scotland’s communities."

Source: Bumper BP profits of £4bn in three months spark criticism - BBC News

Source: Loophole-free energy windfall tax could have funded council tax freeze – Labour | The Independent