Well that didn’t last long did it George? In part 1 I wrote that you were looking out for the British public by making the oil cartels pay tax now 24 hours later you are offering them tax incentives why?
Don’t you honestly think the money and profits they are earning are enough? Centrica are saying the taxes you have imposed on them will stop development of there Morecombe bay gas field,now a couple of weeks ago Centrica announced record profits for there board. This is pure greed by these cartels. I got an idea George,why don’t you offer other companies the same or better still why not give more than the paltry tax breaks you have given the honest tax payer’s of this country? This is another case of blackmail just like the banks,on Saturday there was rioting and violence in the capital,doesn’t that tell you anything,it tells most people here that it isn’t just the arab states that have had enough,it tell us that the British public have had enough of the crap that is being handed out to them,whats next martial law? Ok maybe the violence is un called for but be honest,at least they got noticed and attention was paid worldwide as to what is going on here,this is just the first of many planned,do something now before our country is turned into a state of anarchy.
Chancellor George Osborne is considering offering hundreds of millions of pounds in tax breaks to gas companies, amid warnings that his £2bn Budget raid on their profits could strangle investment and push up prices.
The Treasury said that “field allowances” could be paid out to firms investing in the North Sea to ensure they remain profitable as long as they can present a “robust business case”.
Mr. Osborne’s windfall levy on the North Sea oil and gas companies to finance a cut in fuel was the centrepiece of his 2011 Budget unveiled in the Commons on Wednesday.
But while motoring organisations broadly welcomed the move it was greeted with howls of protest from the oil and gas industry which warned that it could lead to job losses and curtail investment.
The Times reported that Centrica, which operates British Gas, has told ministers that further investment in the Morecambe Bay gasfield could be shelved leaving Britain more dependent on imports from the Middle East and Russia.
The Treasury insisted that there was no reason for companies to put up prices to consumers and that the Morecambe Bay field remained “very profitable”.
However, a spokesman confirmed that they were looking at the scope for paying out field allowances to support the sector.
“We do not believe that consumer prices should rise because of reductions in investment,” the spokesman said.
“While there will be no exemptions to our Fair Fuel Stabiliser policy, the policy specifically includes scope to consider new tax allowances alongside the stabiliser to ensure that the North Sea remains a good place to invest, where a robust business case exists.”
Officials emphasised that a commitment to consider extending the category of fields which qualify for the field allowances had been included in the Budget Red Book and that they were not simply reacting to complaints.