Starmer announces £200m for Grangemouth
The prime minister has announced £200m for Grangemouth ahead of the closure of Scotland’s last oil refinery.
Sir Keir Starmer, speaking at the Scottish Labour conference on Sunday, said the cash would come from the National Wealth Fund for an “investment in Scotland’s industrial future”.
Grangemouth oil refinery, on the banks of the Firth of Forth, is set to cease operation this summer and transition into an import terminal, making 400 workers redundant.
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Sir Keir said: “We will grasp the opportunities at Grangemouth, work alongside partners to develop viable proposals, team up with business to get new industries off the ground and to attract private investors into the partnership we need.
“We will allocate £200m from the National Wealth Fund for investment in Grangemouth.”
The money comes on top of a £100m “growth plan” already in place for the area.
Scotland’s first minister, the SNP’s John Swinney, welcomed the announcement and said it is “important that the Scottish and UK governments work together on securing the future for the workforce”.
The plant will become an import terminal. Pic: Jane Barlow/PA
Sir Keir said the new investment will be a partnership with the private sector, and he is expecting three times the amount the government is putting in to come from private investors.
The prime minister said he believes the transition to clean energy is a “golden opportunity for Britain, especially for Scotland”, and is essential for national security as it “gets Putin’s boots off our throat”.
However, he said oil and gas are also “vital for our security” so will be “part of the future of Scotland for decades to come”.
As well as the investment in Grangemouth’s future, Sir Keir said every person made redundant will get 18 months full pay and a skills and training offer “backed up with up to £10m”.
Any business in Grangemouth that takes on those workers will get National Insurance relief, he also said.
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Petroineos, which owns Grangemouth, announced last September it was to close Grangemouth by this summer because it was unable to compete with sites in Asia, Africa and the Middle East.
The refinery is understood to have been losing about £395,000 a day when it made the announcement and was on course to lose about £153m this year.
The company said the decision would “safeguard fuel supply for Scotland” by converting the site into a terminal able to import petrol, diesel, aviation fuel and kerosene into Scotland.
However, it said that would only need a workforce of fewer than 100 employees.
Petroineos announced its intention to close the plant in November 2023 but union leaders had hoped it could remain open for longer to provide time for a green alternative to be established there.
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Politics
Starmer was aware of the risks of appointing the ‘Prince of Darkness’ as his man in Washington – to an extent
It was a prescient and – as it turned out – incredibly optimistic sign off from Peter Mandelson after eight years as Chancellor of Manchester Metropolitan University.
“I hope I survive in my next job for at least half that period”, the Financial Times reported him as saying – with a smile.
As something of a serial sackee from government posts, we know Sir Keir Starmer was, to an extent, aware of the risks of appointing the ‘Prince of Darkness’ as his man in Washington.
But in his first interview since he gave the ambassador his marching orders, the prime minister said if he had “known then what I know now” then he would not have given him the job.
For many Labour MPs, this will do little to answer questions about the slips in political judgement that led Downing Street down this disastrous alleyway.
Like the rest of the world, Sir Keir Starmer did know of Lord Mandelson’s friendship with the paedophile Jeffrey Epstein when he sent him to Washington.
The business secretary spelt out the reasoning for that over the weekend saying that the government judged it “worth the risk”.
Keir Starmer welcomes Nato Secretary General Mark Rutte to Downing Street.
Pic: PA
This is somewhat problematic.
As you now have a government which – after being elected on the promise to restore high standards – appears to be admitting that previous indiscretions can be overlooked if the cause is important enough.
Package that up with other scandals that have resulted in departures – Louise Haigh, Tulip Siddiq, Angela Rayner – and you start to get a stink that becomes hard to shift.
But more than that, the events of the last week again demonstrate an apparent lack of ability in government to see round corners and deal with crises before they start knocking lumps out of the Prime Minister.
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‘Had I known then, what I know now, I’d have never appointed him’ Starmer said.
Remember, for many the cardinal sin here was not necessarily the original appointment of Mandelson (while eyebrows were raised at the time, there was nowhere near the scale of outrage we’ve had in the last week with many career diplomats even agreeing the with logic of the choice) but the fact that Sir Keir walked into PMQs and gave the ambassador his full throated backing when it was becoming clear to many around Westminster that he simply wouldn’t be able to stay in post.
The explanation from Downing Street is essentially that a process was playing out, and you shouldn’t sack an ambassador based on a media enquiry alone.
But good process doesn’t always align with good politics.
Something this barrister-turned-politician may now be finding out the hard way.
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