» Friday, January 16, 2015

Tax Cuts for North Sea Oil

When asked whether the PM was sympathetic to calls to cut corporation tax to help North Sea oil, PMOS pointed to the Chancellor?s interviews yesterday where he said the government understood the pressures being faced by the sector given recent changes in the oil price, and that the government had already taken action through a 2% tax cut for the sector which came into effect at the start of the year. PMOS also noted the Chancellor?s comments that other proposals were being considered ahead of the Budget.

When asked whether the government would look at proposals sooner than the Budget, PMOS said that fiscal decisions were set out at fiscal events.

Downing Street Says...

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