Written Question·Treasury·UIN 36871

North Sea Oil: Tax Allowances

Tabled: 10 March 2025

Answered: 18 March 2025

Question

Tom Morrison

To ask the Chancellor of the Exchequer, if she will make an estimate of how much tax relief oil producers will receive for the development of the Rosebank oil field via the North Sea Investment Allowance; and what steps she is taking to ensure this fundin

Answer

James Murray

The government’s fiscal approach in relation to the upstream oil and gas sector balances attracting investment with ensuring a fair return for the nation in exchange for the use of its resources. In last year’s Autumn Budget, the government increased the ...

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