EWING CALLS FOR UK TREASURY TO ACT ON NORTH SEA OIL AND GAS TAX

 
In a message to the UK Treasury requesting action on tax in the March budget for the oil and gas industry, Fergus Ewing MSP said:
 
“There has never been a more important requirement for action on tax for our oil and gas sector. The UK Government has a dreadful record on tax – which has had the consequence of driving away investment and discouraging new exploration.   
 
That is why almost alone in the world of Oil producing countries, the UK has no money set aside in an oil fund. By contrast, Norway has a fund of over £550 Billion – that is 550 hundred THOUSAND million pounds. The boast by Labour Tory Liberals that the UK has “broad shoulders” is a hollow one when countries like Norway – with the same population as Scotland – with “narrow shoulders” have led the world.
 
The difference is that they have independence and have made their own policies, decisions and choices.  They have used the power of independence to steward their resource for their people’s future beyond oil – not squandered it on various follies both in peace and in war.”
 
Linked below is the paper from the Scottish Government which was produced last week, and the Ministerial Statement which Fergus Ewing MSP made to the Scottish Parliament. This sets out the work the Scottish Government has done using devolved powers, but also the urgent need for the UK to begin to exercise their powers as necessary.
 
Full Official Report: www.scottish.parliament.uk/parliamentarybusiness/28862.aspx?r=9711
Oil and Gas Report: www.scotland.gov.uk/Resource/0046/00467339.pdf