Session 2005-06 11 May 2006
EFFECTS OF TAX INCREASES ON THE OIL INDUSTRY
North Sea oil and gas is one of Scotland's most precious natural resources; a resource that could provide jobs and opportunities for decades to come. The industry itself offers skills, infrastructure and technology. Exploration and investment must, therefore, be nurtured in order to protect jobs.
The Scottish Affairs Committee has agreed to hold an inquiry to examine the implications of the £2 billion tax increase announced by the Chancellor in his last Budget Statement. We will seek to examine the response by the oil industry, whether tangible damage has been done to the industry by the tax increases and if the more marginal fields have become uneconomic.
The Committee welcomes written evidence from interested parties on the inquiry by
30 June 2006. The Committee will be arranging a short series of public oral evidence sessions, and details of these will be announced in due course.
Submissions should be in Word or rich text format and sent by
e-mail to [email protected]. The body of the e-mail must include a contact name, telephone number and postal address. The e-mail should also make clear who the submission is from.
Submissions must address the terms of the inquiry. They should be as brief as possible, and
certainly no more than 6 sides of A4. Paragraphs should be numbered for ease of reference, and the document should include an executive summary.