Skip to content
Thursday 20 August 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE · FR
MorningWire

European business, markets and politics

FTSE 100
10,708.22
-0.33%
DAX
25,965.33
-0.48%
CAC 40
8,468.39
-0.39%
STOXX 50
6,424.68
-0.31%
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
More
GermanyFranceEU InstitutionsCompetitionPublic AffairsBankingTechnologyEnergy
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
  • DE
Saturday 01 June 2024 4:11 pm  |  Updated:  Sunday 02 June 2024 7:38 am

Swinney: Labour would cause ‘devastation’ to employment in oil and gas industry

By: Morning Wire reporter

Add as a preferred source on Google
Diversified Energy Company said it would pay for the sale with a $35m share issuance.
Oil prices remain volatile as investors go sceptical on Iran peace talks.

A Labour government would “lead to the devastation of employment” in the oil and gas industry in north-east Scotland, the First Minister has said.

John Swinney was speaking with media at the Grey Hope Bay Cafe on the outskirts of Aberdeen during the SNP’s campaign trail, joined by Aberdeen South candidate Stephen Flynn.

Mr Swinney was asked if he is confident the SNP will win seats in the upcoming election.

He said: “Well, we’ve got to work very hard to win votes in any election campaign and that’s why I’m here in the north east of Scotland.

“We’ve got a strong presence in the north-east already, but I want us to gain ground.

“And, of course, we can gain ground by being the party that can defeat the remaining Conservative MPs in the north east of Scotland. We are the challengers in all of those constituencies.

“I completely understand why people want to get rid of the Conservative government, and the best way to do that is to vote for the SNP because we’re the challengers in these constituencies”.

Mr Swinney was scheduled to join SNP candidates for West Aberdeenshire, Kincardine, Aberdeen North, Gordon and Buchan, North and Moray East, Moray West, and Nairn and Strathspey later in the day.

Asked if he is in any way concerned that Labour may scoop some of these seats in the upcoming election, Mr Swinney said the party has a “real problem” in the north-east of Scotland and said their policies would lead to a “devastation of employment” in the oil and gas sector in the area.

Read more

Scotland is a warning of what Andy Burnham’s devolution experiment will look like

Former SNP leader Nicola Sturgeon has said results for the SNP, now led by John Swinney, were worse than expected in the exit poll

He said: “I think the Labour Party has got a real problem in the north-east of Scotland because their policy programme will lead to the devastation of employment in the north-east of Scotland through the proposals that they are bringing forward, which will have a significant and damaging impact on employment within the oil and gas sector.

“And what I want to make sure of is that people understand the dangers of Labour’s plans and the damage that could be done to employment.

“And, you know, we’ve got a commitment to manage to transition to net zero and that’s what the SNP will work with the oil and gas sector to deliver because we’ll need the oil and gas sector to contribute to our economy, but we will also ensure that there is the support that that sector can give, to enable the transition to renewables to be undertaken”.

He added: “There’s a lot of independent commentary that indicates that the plans of the Labour Party and particularly their tax grab that is being perpetuated by the Conservative and Labour parties is having a real damaging effect on investment in the oil and gas sector, which we need to sustain the sector, but we also need to ensure that that sector can play a part in the transition to net zero which is fundamental to the approach that we’ve got to take as a country”.

Ian Murray, Labour’s shadow Scottish secretary, said: “John Swinney is resorting to increasingly desperate and dishonest attacks on Labour’s plans because the SNP has no record to stand on and no ideas of its own.

“The SNP has missed its green jobs targets, slashed its green jobs funding, given up on climate leadership and turned its back on oil and gas workers – but Labour will make Scotland a clean energy superpower.

“Labour will build on the vast skills and expertise of our energy industry to bring the jobs of the future to Scotland while continuing to support oil and gas for decades to come.

“These transformative plans – driven forward by a publicly-owned GB Energy company based here in Scotland – will deliver 69,000 new green jobs, lower bills and energy security”.

Press Association – Ryan McDougall

Read more

Scotland’s tax hike may have backfired as receipt falls

Andy Burnham and John Swinney shaking hands, both wearing dark suits and ties, in a professional setting.

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News

Categories

  • Politics
  • Energy

People & Organisations

  • GB Energy
  • Labour
  • oil and gas
  • Scotland

Related Topics

  • Labour Party
  • Oil prices
  • Scotland

Trending Articles

  • Jobless Banquet: Youth unemployment surge ‘sends Neets to KFC’

  • City law firm sues prominent Emirati business family

  • Amanda Blanc has worked her magic at Aviva

  • As it happened: Miners fuel FTSE 100 recovery; oil jumps as Trump claims Strait of Hormuz

  • House prices in wealthy London boroughs fall by up to £300,000

More from Morning Wire

  • Scotland is a warning of what Andy Burnham’s devolution experiment will look like

    Opinion
    Former SNP leader Nicola Sturgeon has said results for the SNP, now led by John Swinney, were worse than expected in the exit poll
  • Scotland’s tax hike may have backfired as receipt falls

    Economics
    Andy Burnham and John Swinney shaking hands, both wearing dark suits and ties, in a professional setting.
  • Burnham to approve North Sea oil and gas drilling in policy blitz

    Politics
    North Sea oil terminal with storage tanks and docking facilities under a clear sky, highlighting energy infrastructure.
  • Europe has made a ‘major mistake’ on slow electrification, IEA chief warns 

    Energy
    UK industrial electricity prices are the highest in the G7 and 46 per cent above the average of the International Energy Agency.
  • Making Miliband chancellor would be a ‘mistake’, Trump officials warn

    Politics
    Donald Trump speaking at April event, wearing a suit and tie, with an expressive gesture and a serious facial expression
  • Shabana Mahmood set to be named Chancellor by Burnham

    Politics
    Shabana Mahmood, potential Chancellor, in a professional setting, poised and confident, reflecting leadership qualities
  • Labour defends Burnham’s ‘very powerful’ No 10 North plans

    Politics
    Houses of Parliament in Westminster showcasing historic architecture under a clear sky, central to UK government and politics
  • North Sea is not competitive, says BP boss days after exit

    Markets
    British Petroleum BP forecourt with fuel pumps and company signage visible in a business setting, highlighting energy serv...
MorningWire

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • EU Institutions
  • Europe

Business

  • Markets
  • Business
  • Economy
  • Regulation
  • Competition
  • Public Affairs

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About Morning Wire
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 Morning Wire Ltd · Published by Morning Wire Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook