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Gordon Brown

Oil & Gas

Brown calls for North Sea reserve for oil industry

Gordon Brown is calling for the creation of a North Sea reserve fund to help the oil industry in one of his final speeches before stepping down as a politician. The former prime minister believes the fund would help maintain and upgrade infrastructure and could provide last-resort debt finance for companies who want to keep fields open. He believes the Government could even take over fields in partnership with some firms in order to keep them open and viable in future. The Kirkcaldy and Cowdenbeath MP, who is stepping down from Westminster at May’s election, also wants to see young people encouraged to work in hi-tech medical, environmental and engineering jobs as traditional manufacturing work continues to decline.