North Sea Oil And Gas Industry

EDM number 1237 in 2001-02, proposed by Alex Salmond on 02/05/2002.

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.

This motion has been signed by a total of 58 MPs.