Grangemouth closure a ‘shining example of how not to do anything’, MPs told
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The forthcoming closure of the Grangemouth oil refinery is a “shining example of how not to do anything”, MPs were told as the boss of plant owners Ineos came under fire. Just Transition Commissioner Richard Hardy levelled thinly veiled criticism at Sir Jim Ratcliffe, the chairman and chief executive of Ineos – who also owns part of Manchester United Football Club.
Following reports last year that Ineos had continued to receive public cash despite announcing plans to close the Grangemouth refinery, Mr Hardy told MPs on the Scottish Affairs Committee there needs to be better “conditionality around the provision of public funds”.
He insisted: “There needs to be, in our view, conditionality around the provision of public funds to people, particularly very rich people living in tax havens who own football teams who take public money and then spend that public money on divesting jobs in communities that are very precarious.”.
In September last year, bosses at Petroineos – a joint venture between Petro China and Ineos – confirmed the Grangemouth refinery will close in the second quarter of 2025, with the loss of some 400 jobs. With the Just Transition Commission set up to help communities and workers as the UK switches away from fossil fuels towards greener alternatives, Mr Hardy said they had “done a lot of work on Grangemouth”.
