MSP CALLS ON WESTMINSTER TO SUPPORT OIL - GAS REPORT FINDINGS.

MSP CALLS ON WESTMINSTER TO SUPPORT OIL - GAS REPORT FINDINGS.

Brian Adam, MSP for Aberdeen North, has today given his support to findings in a report issued by UK Oil and Gas. The report stipulates the need for intervention from the UK Government to stem the effects of the credit crunch on the industry, especially on small businesses and contractors.

Commenting Mr. Adam said:

"The UK Government has pumped billions of pounds into the banking sector. It remains to be seen if this will have the desired effect in jump starting the financial markets. It is clear, however, that much of this money is not being passed on in the form of credit to the small businesses who need it. This is having a strong impact on such groups who are vital to our overall economy.
"This is particularly true in the Oil and Gas industry, and I support the recommendations of the report issued. I personally echo the call on Westminster to step in. I will be seeking assurances to see that action is taken to help secure the 150,000 jobs directly, and indirectly employed in this sector, many of whom are currently situated in our city.

"In Parliamentary questions to the Scottish Government last month, I have already received confirmation that the Government north of the border is doing much to assist. I welcome their commitment to the Oil and Gas Academy and the other projects which have been put forward through Scottish Enterprise."

"The intervention necessary from London is not only to protect individual livelihoods, but also future revenue which will help us out of this economic downturn. Tight checks are needed promptly to ensure that of the billions put into bail-out plans, it is spent wisely, and not on anyone's bonus."