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United Kingdom · Question · Written question

UIN 40578

Offshore Industry: Taxation

answeredUnited Kingdom· UK Parliament· EN

Introduced

18 August 2021

Last action

6 September 2021 · Answer

Status

Answered

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Subjects

Taxation

Source updated

6 September 2021

Taxation

Summary

To ask the Chancellor of the Exchequer, what plans he has to remove incentives for oil and gas extraction from the tax system; and if he will make a statement.

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Timeline

  1. 18 August 2021

    Written question

    To ask the Chancellor of the Exchequer, what plans he has to remove incentives for oil and gas extraction from the tax system; and if he will make a statement.

    Source: Commons

  2. 6 September 2021

    Answer

    Our domestic oil and gas industry produces the equivalent of around half of the UK’s primary energy needs and will continue to play an important role as we transition to a net zero economy. The industry has paid around £375bn in production taxes to date a...

    Source: Written answer

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