Written Question·Treasury·UIN 19177
Offshore Industry: Finance
Tabled: 10 December 2024
Answered: 19 December 2024
Question
Dr Ellie Chowns
Green Party — North Herefordshire
To ask the Chancellor of the Exchequer, if she will make it her policy to (a) end funding for the Ring Fence Expenditure Supplement for oil and gas companies and (b) redirect any savings to international climate finance.
Answer
James MurrayRing Fence Expenditure Supplement (RFES) maintains the time value of oil and gas exploration, appraisal and development costs. This recognises that oil and gas projects have high costs before production begins, but no production income to set these costs ...
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