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Taxation: Offshore Industry

Treasury written question – answered on 13th June 2011.

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Photo of Huw Irranca-Davies Huw Irranca-Davies Shadow Minister (Energy and Climate Change)

To ask the Chancellor of the Exchequer what assessment he has made of the potential effects on levels of North sea oil and gas production of the changes proposed to the tax regime in the 2011 Budget

Photo of Justine Greening Justine Greening The Economic Secretary to the Treasury

As set out in Budget tax information and impact note which can be found at:

http://www.hmrc.gov.uk/budget2011/tiin6133.htm the Government do not expect a significant impact on investment or production in the forecast period as a consequence of this measure.

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