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The Rt Hon Sir Malcolm Bruce MPLiberal Democrat MP for Gordon |
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Bruce welcomes UK Government additional support for North Sea
September 7, 2012 4:19 PM
Gordon MP, Sir Malcolm Bruce MP has welcomed the Chancellor's announcement on the introduction of a new Brown Field Allowance which will provide tax relief for those seeking to invest in older oil and gas fields.
He said:
"I welcome this announcement as further recognition by the UK Government of the importance of the oil and gas industry and as a positive result of the ongoing dialogue between Government and the sector.
"This tax relief package will help to sustain the domestic oil and gas sector in the North East, as well as supporting the global export market. It creates an environment which will attract future investment in those difficult to extract fields and will be to the long-term benefit of the UK economy."
ENDS