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1136299
registered interest false more like this
date less than 2019-07-02more like thismore than 2019-07-02
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Offshore Industry: Taxation remove filter
house id 1 remove filter
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, with reference to the Written Statement of 21 March 2019 on Decommissioning Relief Deeds, HCWS1435, what the name is of the oil company that defaulted on its decommissioning obligations causing the Government to make two payments totaling £45.4 million in 2017-18; what the circumstances were of that default; and if he will place in the Library a copy of the evidential basis for calculating the provision of £357.1 million for future defaults. more like this
tabling member constituency Norwich South more like this
tabling member printed
Clive Lewis more like this
uin 272255 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-07-08more like thismore than 2019-07-08
answer text <p>HM Treasury’s 2018-19 accounts recognise a provision of £357m payable to MCX Dunlin and MCX Osprey in respect of decommissioning expenditure in relation to the Dunlin cluster of fields, created as a result of Fairfield Energy defaulting on their decommissioning obligations. The decision to decommission the Dunlin cluster was a commercial decision made by Fairfield Energy, MCX Dunlin and MCX Osprey after reaching agreement with the Oil and Gas Authority that maximised economic recovery had been achieved for these assets.</p><p> </p><p>The provision is based on the tax relief due on the estimated remaining costs of decommissioning the defaulted fields, discounted for the time value of money.</p> more like this
answering member constituency Newark remove filter
answering member printed Robert Jenrick more like this
question first answered
less than 2019-07-08T16:45:50.747Zmore like thismore than 2019-07-08T16:45:50.747Z
answering member
4320
label Biography information for Robert Jenrick more like this
tabling member
4500
label Biography information for Clive Lewis more like this
1019949
registered interest false more like this
date less than 2018-12-04more like thismore than 2018-12-04
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Offshore Industry: Taxation remove filter
house id 1 remove filter
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what assessment he has made of the compatibility of Transferable Tax History and the Paris climate agreement. more like this
tabling member constituency Norwich South more like this
tabling member printed
Clive Lewis more like this
uin 198905 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2018-12-14more like thismore than 2018-12-14
answer text <p>In the IPCC Special Report on Global Warming of 1.5˚C, all the scenarios reflect an ongoing role for some fossil fuel use, recognising the need to maintain a supply of energy to meet global demand.</p><p> </p><p>The UK is currently a net importer of both oil and gas and our domestic supply is forecast to decline further in the future. Managing the declining production of our relatively small domestic basin, whilst reducing our overall consumption of fossil fuels is compatible with the UK’s obligations under the Paris Climate Agreement.</p> more like this
answering member constituency Newark remove filter
answering member printed Robert Jenrick more like this
grouped question UIN 198906 more like this
question first answered
less than 2018-12-14T08:58:16.903Zmore like thismore than 2018-12-14T08:58:16.903Z
answering member
4320
label Biography information for Robert Jenrick more like this
tabling member
4500
label Biography information for Clive Lewis more like this
964894
registered interest false more like this
date less than 2018-09-03more like thismore than 2018-09-03
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Offshore Industry: Taxation remove filter
house id 1 remove filter
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what the cost to the public purse has been of (a) subsidies and (b) reductions in tax for North Sea oil and gas companies in the last three years more like this
tabling member constituency Coatbridge, Chryston and Bellshill more like this
tabling member printed
Hugh Gaffney more like this
uin 169706 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2018-09-11more like thismore than 2018-09-11
answer text <p>There are no subsidies available to North Sea oil and gas companies.</p><p> </p><p>Estimates of the reduction in taxes paid by North Sea companies due to changes to the tax regime are available from the policy costings documents published alongside each fiscal event on the gov.uk website.</p><p> </p> more like this
answering member constituency Newark remove filter
answering member printed Robert Jenrick more like this
question first answered
less than 2018-09-11T16:21:15.007Zmore like thismore than 2018-09-11T16:21:15.007Z
answering member
4320
label Biography information for Robert Jenrick more like this
tabling member
4614
label Biography information for Hugh Gaffney more like this