Share

Minister addresses chamber breakfast delegates

Support is growing for a statutory consultation period on changes to the offshore taxation system, Energy Minister Fergus Ewing said today.

Mr Ewing was speaking to 300 oil and gas delegates at a business breakfast to mark the beginning of the Offshore Europe Exhibition in Aberdeen. The minister will meet companies investing in Scotland at the exhibition.

Mr Ewing said:

"For four decades, successive UK Governments have treated the oil and gas industry as a 'cash cow'.

"The Treasury's unexpected changes to the Supplementary Charge simply confirm that.

"So the idea of a period of statutory consultation on changes to the offshore taxation regime is finding favour in the industry.

"Many people spoke to me about the need for stability and support from government.

"Through our enterprise networks we are supporting oil and gas companies to keep innovating and creating jobs in Scotland.

"The UK Government needs to urgently restore investor confidence and establish a statutory consultation mechanism to give greater certainty and undo the damage it has done to the industry."

255