Budget Resolutions and Economic Situation — Amendment of the law

Part of Oral Answers to Questions — Prime Minister – in the House of Commons at 1:46 pm on 22nd April 2009.

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Photo of Robert Smith Robert Smith Shadow Deputy Leader of the House of Commons, Opposition Whip (Commons) 1:46 pm, 22nd April 2009

In the north-east of Scotland specifically and across the UK, 500,000 jobs depend on investment in the North sea. The Chancellor has gone some way to recognise that with his scheme for the field allowance, but that scheme was dreamed up in a time of much higher oil prices, when the challenge was how to get incremental developments. Will the right hon. Gentleman's Select Committee consider whether the needs of the wider industry could be addressed by taking it further into current developments and by bringing forward tax relief for new entrants, so that they can deal with the missing cash flow caused by the banking crisis?