Skip to main content

Oil: Natural Gas

Volume 461: debated on Tuesday 19 June 2007

To ask the Secretary of State for Scotland what recent discussions he has had with the First Minister on the fiscal regime for the UK oil and gas sector. (140992)

The fiscal regime for the UK oil and gas sector is a reserved matter. The Government are committed to realising the full potential of our oil and gas reserves. This is why this year's budget confirmed that we would provide stability in the North sea fiscal regime—as requested by the industry—including retaining generous capital allowances and a continuing engagement with the industry to consider a future fiscal regime for the North sea.