John Milne

John Milne

Liberal Democrat — Horsham

Speaking in the House of Commons on 11 November 2026

Debate

Rosebank Oilfield: Government Policy

Contribution

I will not. A new taxation regime, the oil and gas revenue levy, begins in 2030. Equinor will make most of its investment while the generous reliefs are switched on, but will generate most of its profit after 2030 when the windfall tax is no longer in effect. I ask the Minister what assumptions are being made regarding tax revenue—the rationale, not just the amount. Does the Minister accept that returns could be greatly reduced by clever accountancy? Can we be sure that Rosebank does not end up as a gigantic tax dodge?

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