RACHEL Reeves appeared to split with Ed Miliband tonight over North Sea drilling — admitting it would raise money.
The Chancellor said she was “very happy” Britain is currently extracting oil and gas from the rich wells.
The Government is banning the issuing of new licences to extract fossil fuels off our coastline.
Energy Secretary Mr Miliband has refused to scrap the moratorium despite growing demands for home-grown supply.
He has also been stalling on a decision to green-light the Rosebank oil field and the Jackdaw gas field.
Ms Reeves told the BBC she was “very happy that we are” continuing to drill in the North Sea.
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She added: “Even if we drilled every bit of oil and gas out of the North Sea, we wouldn’t be able to set the price of it and it’s the price that’s going up at the moment.
“It wouldn’t affect the price of the pumps.
“But it would, of course, create jobs and tax revenue, and that is why, exactly, we continue to support oil and gas for decades to come.”
Last week Conservative leader Kemi Badenoch said she would scrap Labour’s “stupid” ban on new oil and gas licences to get Britain drilling again.
She said: “Labour’s ban on new oil and gas drilling licences was stupid when they put it in their manifesto, in the middle of an energy crisis it’s completely crazy.”
