[UK Parliament, 26.02.2025] Falkirk MP Euan Stainbank has welcomed the UK Labour Government’s £200 million investment in Grangemouth through the National Wealth Fund, calling it a vital step in securing the site’s future and supporting a just transition for workers. The funding is the first time money has been ring-fenced from the National Wealth Fund, recognising the exceptional opportunities at Grangemouth.
Speaking at Prime Minister’s Questions, Mr Stainbank asked the Prime Minister what further steps the Government will take to safeguard long-term, high-quality jobs in Grangemouth. He pledged to continue working in Parliament and with ministers to ensure the investment is delivered effectively and benefits the local economy.
Mr Stainbank said:
“The Grangemouth refinery closure has loomed over Central Scotland since the Petroineos announcement in November 2023. Two weeks ago, Scottish Labour colleagues and I met with the National Wealth Fund to make the case for investment in Grangemouth. I strongly welcome the exceptional commitment this Labour Government has shown to Grangemouth by committing £200 million from the National Wealth Fund.
“This funding is only possible because of Scottish Labour MPs fighting for Grangemouth and Labour’s public investment vehicle, the National Wealth Fund exceptionally ring-fencing funding for Grangemouth. Neither the SNP nor the Conservatives had plans or supported the budget choices that secured this crucial investment. We must see this funding effectively deployed to accelerate industry and job creation in Grangemouth.
“It is now essential that both Governments and all stakeholders work at pace to ensure industry and jobs are secured in Grangemouth. I have been meeting with Ministers, stakeholders, and colleagues this week to push for further action and clarity on how this investment will be delivered. Grangemouth’s future is too important for further delay.”
ENDS
Notes to Editors
Euan Stainbank MP asked the Prime Minister at PMQs:
“The Grangemouth refinery closure has loomed over Central Scotland since the Petroineos announcement in November 2023. Two weeks ago, Scottish Labour colleagues and I met with the National Wealth Fund to make the case for investment in Grangemouth. I strongly welcome the exceptional commitment this Labour Government has shown to Grangemouth by committing £200 million from the National Wealth Fund. Can I ask the Prime Minister what further steps the Government will be taking to secure permanent, good jobs in Grangemouth?”
A recording of Mr Stainbank MP’s question and the Prime Minister’s response is available here: https://youtu.be/HwM1jdzpFHg.
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