John Lamont (Conservative)

Our response to the recent Scottish Affairs Committee inquiry into promoting Scotland internationally highlights the wide range of activities that the Scotland Office, the Foreign, Commonwealth and Development Office and the Department for International Trade are undertaking around the world to promote Scottish interests across diverse areas, including trade and investment. UK Export Finance has provided £2.1 billion to Scottish companies since 2016-17, supporting a range of businesses, including food processors, hydro research, manufacturing and renewable energy. Our approach to attracting foreign investment in Scotland is driven by the Office for Investment, which launched in 2020. The successes of the programme are clear, with 4,408 new jobs created by overseas investment.

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Rishi Sunak (Conservative)

I am pleased that the hon. Gentleman brought up the subject of energy. He was right to do so. When it comes to the economy, energy is incredibly important to Scotland, and Scotland will play a fantastic part in helping us make the transition to net zero. We now know, however, that the Scottish Government do not want to support the Scottish energy industry and the 200,000 jobs that it produces. I am keen to work with the Scottish Government to support the North sea, because it is something of which we are all very proud in the United Kingdom.

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Rishi Sunak (Conservative)

My hon. Friend is a fantastic champion for the steel industry, and this Government remain committed to a thriving UK steel industry. That is why our support for steel includes nearly £800 million in relief for electricity costs and steel companies are eligible to bid for up to £1.5 billion in capital grant to speed their transition to net zero steel production.

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David Duguid (Banff and Buchan) (Con)

Q11. Unlike parties opposite, including the Scottish National party—even the hon. Member for Aberdeen South (Stephen Flynn)—I know my right hon. Friend recognises the critical role that oil and gas companies and their employees have in not only providing energy security but delivering the energy transition to net zero. Can he confirm this Government’s ongoing commitment to expanding our carbon capture utilisation and storage capacity, including the Acorn project in St Fergus in my constituency? Can he provide an update on the track 2 sequencing? ( 902922 )

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Rishi Sunak (Conservative)

My hon. Friend is a fantastic champion and campaigner for this project. We will invest up to £1 billion to establish carbon capture and storage in four industrial clusters by 2030. We very much recognise the benefits of the Scottish cluster and the role it could play in decarbonisation, and we are progressing track 2 and will set out further details in due course.

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Rishi Sunak (Conservative)

My hon. Friend is absolutely right. We know that we will have to rely on hydrocarbons for decades to come as we transition to net zero, and consuming oil and gas from the North sea means less than half the carbon footprint of importing that same oil and gas, so it obviously makes sense to do it here and in the process support tens of thousands of jobs in Scotland. I can reassure him that the Scottish oil and gas industry has this Government’s wholehearted support.

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