Corporation tax treatment of the oil and gas industry

Part of Finance Bill – in the House of Commons at 7:30 pm on 5th September 2016.

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Photo of Phil Boswell Phil Boswell Scottish National Party, Coatbridge, Chryston and Bellshill 7:30 pm, 5th September 2016

Many believe that the oil and gas industry has been adversely affected by Brexit. Earlier this year, I asked this Chancellor, in his first Treasury questions, when the people of the UK could get an insight into the scale of capital flight following Brexit. He replied:

“a series of data publications during the late summer and autumn will inform a proper response at the autumn statement.”—[Official Report, 19 July 2016;
Vol. 613, c. 664.]

Many other hon. Members in this House asked similar questions to which the Chancellor gave a similar answer—that all will be revealed in the autumn statement. Does the right hon. Gentleman agree that the Chancellor, having now had a few months to think about it, should at least furnish us with the date of the coming autumn statement?