Oil: Prices

Scotland Office written question – answered on 14th January 2015.

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Photo of Frank Roy Frank Roy Labour, Motherwell and Wishaw

To ask the Secretary of State for Scotland, what assessment he has made of the potential effect on jobs in Scotland of the fall in the price of oil.

Photo of Alistair Carmichael Alistair Carmichael The Secretary of State for Scotland

Sustained lower oil prices are clearly challenging for companies active in the North Sea.

The UK Government is committed to the long-term support of this vital industry that creates jobs and generates investment. This support includes the full implementation of the Wood Review recommendations and the package of fiscal changes and initiatives announced by the Treasury in early December designed to ease the tax burden on the industry.

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