NORTH SEA OIL AND GAS INDUSTRY

Early day motion 1237, tabled 2 May 2002 by Alex Salmond (Scottish National Party). Signed by 58 members.

That this House notes that the North Sea oil and gas industry supports six per cent. of the Scottish workforce and as such is vital to the Scottish economy; recognises that Scotland is competing against other potential investments around the world; acknowledges a marked 55 per cent. decline in exploration and appraisal since 1996; expresses its concern that the Chancellor announced a 10 per cent. supplementary charge on North Sea profits without any public economic impact assessment or formal industry consultation; further notes that it contradicts the Chancellor's own policy of consultation for the Government to usher in changes to policies without public consultation; and calls on the Government to delay any changes to the fiscal regime until a full economic impact assessment can be conducted which looks at the current and future likely effects of a tax increase on employment, exploration and appraisal, and utilisation of UK pipeline infrastructure related to the North Sea.

Signatures by party: Conservative 43, Liberal Democrat 4, Scottish National Party 4, Labour 2, Plaid Cymru 2, UUP 2, DUP 1.