LABOUR MUST BACK IMMEDIATE OIL TAX HELP

LABOUR MUST BACK IMMEDIATE OIL TAX HELP
 
SNP Energy Minister Fergus Ewing said that the Labour party must clearly back proposals for a reduction in tax on the oil and gas industry to ensure a vibrant future for the North Sea.
 
The proposals to reduce the supplementary charge immediately and to introduce an exploration tax credit have been put forward by the Scottish Government and supported by the industry, including Sir Ian Wood.
 
Speaking ahead of a debate in Westminster on the Oil industry Mr Ewing said:
 
“Every day without action from the UK Government risks further damage to the oil and gas industry.  Businesses and oil workers in the North Sea do not need to wait for another review they need action now.
 
“Labour must give their full support to the immediate reduction in the supplementary charge and support an exploration tax credit that would secure a strong future for the North Sea.
 
“The Scottish Government has set out clear proposals that would support the industry and industry experts like Sir Ian Wood have endorsed our approach.
 
“So far Labour have only shown interest in talking the industry down and playing party political games.  The Oil and gas industry has had enough of warm words – what is needed is action and action now.
 
“Instead of sitting back and doing nothing Labour must endorse the immediate action that the industry and the Scottish Government have been calling for.”