Oil industry and unions lobby for corporate welfare

Unions call for North Sea tax breaks as oil slump threatens jobs

Interesting article which makes clear the potential wider social benefits from direct forms of corporate welfare….

Terry Macalister and Severin Carrell write that:
“The role of the North Sea as a goldmine for future tax revenues and highly paid jobs is under threat unless something is done urgently to address a crisis triggered by plunging oil prices, the government was warned.
Leading executives, politicians and union leaders said billions of pounds worth of Treasury income and 37,500 jobs were at risk and some want the tax burden to be lowered further in a bid to stimulate new activity and create longerterm fiscal revenues.”

Be the first to comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.