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178820
star this property registered interest false more like this
star this property date less than 2015-02-10more like thismore than 2015-02-10
star this property answering body
HM Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Offshore Industry: Taxation more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 3 February 2015 to Question 221932, what estimate he has made of the number of redundancies in the offshore drilling sector since the introduction of the Investment Allowance. more like this
star this property tabling member constituency Stockton North remove filter
star this property tabling member printed
Alex Cunningham more like this
star this property uin 224045 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
unstar this property answer text <p>The government understands the challenges currently facing the UK oil and gas industry and is following developments in the North Sea closely.</p><p> </p><p>The Investment Allowance rewards companies investing in the long-term future of the basin – at all stages of the investment life cycle – and we would expect it to significantly reduce the effective tax rate for companies investing in the UK Continental Shelf.</p><p> </p><p> </p><p> </p><p>Work on the design of the new Investment Allowance has been progressing rapidly since December - the government published a consultation document on its proposals on 22 January.</p><p> </p><p> </p><p> </p><p>The government recognises the importance of the industry to local economies and as an employer. The report published by the Department for Business, Innovation and Skills, in partnership with Oil and Gas UK and OPITO (the Offshore Petroleum Industry Training Organisation) in December, “Fuelling the next generation: A study of the UK upstream oil and gas workforce” highlighted both the sector’s current contribution to employment and its future potential. The government will continue to work closely with industry through the Oil and Gas Industry Council and with the newly-formed Scottish Energy Jobs Taskforce to support jobs in the sector, develop the industry’s skills base and make sure this potential is realised.</p><p> </p>
star this property answering member constituency Witham more like this
star this property answering member printed Priti Patel more like this
star this property question first answered
less than 2015-02-25T16:59:44.063Zmore like thismore than 2015-02-25T16:59:44.063Z
unstar this property answering member
4066
star this property label Biography information for Priti Patel more like this
star this property tabling member
4122
unstar this property label Biography information for Alex Cunningham more like this
178824
star this property registered interest false more like this
star this property date less than 2015-02-10more like thismore than 2015-02-10
star this property answering body
HM Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Offshore Industry more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 9 February 2015 to Question 221932, when the Joint Oil and Gas Industrial Strategy was published; what discussions he has had regarding the Strategy with his ministerial colleagues in the Department for Business, Innovation and Skills since the fall in international oil prices; and what updates his Department has proposed to the Strategy since July 2014. more like this
star this property tabling member constituency Stockton North remove filter
star this property tabling member printed
Alex Cunningham more like this
star this property uin 224043 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
unstar this property answer text <p>Actions on fiscal matters fall under the responsibility of HM Treasury (as stated in the industrial strategy) and these actions are taken forward in collaboration with the Oil and Gas Fiscal Forum. The Forum is separate from the Oil and Gas Industry Council, who have responsibility for the Oil and Gas Industrial Strategy, in partnership with BIS.</p><p> </p><p> </p><p> </p><p>The Oil and Gas Industrial Strategy is kept under review by the Oil and Gas Industry Council. The Council met in November 2014 and is due to meet next in March 2015.</p><p> </p> more like this
star this property answering member constituency Witham more like this
star this property answering member printed Priti Patel more like this
star this property question first answered
less than 2015-02-25T16:59:28.847Zmore like thismore than 2015-02-25T16:59:28.847Z
unstar this property answering member
4066
star this property label Biography information for Priti Patel more like this
star this property tabling member
4122
unstar this property label Biography information for Alex Cunningham more like this
178825
star this property registered interest false more like this
star this property date less than 2015-02-10more like thismore than 2015-02-10
star this property answering body
HM Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Offshore Industry: Taxation more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 9 February 2015 to Question 221932, what estimate he has made of the effect of the reduction in the rate of Supplementary Charge on levels of (a) employment, (b) exploration activity, (c) infrastructure maintenance and (d) decommissioning in the offshore oil and gas industry to date. more like this
star this property tabling member constituency Stockton North remove filter
star this property tabling member printed
Alex Cunningham more like this
star this property uin 224042 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
unstar this property answer text <p>The government recognises the importance of the UK oil and gas industry and its contribution to energy security and the UK economy. We are committed to the future of the industry and creating the right conditions to maximise economic recovery.</p><p> </p><p> </p><p>At Autumn Statement, the government published a radical plan for the future of the oil and gas fiscal regime and set out a package of measures, including the reduction in the rate of the Supplementary Charge, to tackle the fiscal challenges and ensure the UKCS continues to attract investment, simplify the current system, and remove barriers at all stages of the production life cycle. The package is expected to drive around £7bn of additional investment and 350m barrels of oil equivalent production.</p><p> </p> more like this
star this property answering member constituency Witham more like this
star this property answering member printed Priti Patel more like this
star this property question first answered
less than 2015-02-25T16:59:13.963Zmore like thismore than 2015-02-25T16:59:13.963Z
unstar this property answering member
4066
star this property label Biography information for Priti Patel more like this
star this property tabling member
4122
unstar this property label Biography information for Alex Cunningham more like this