Summary
GEORGE Osborne's surprise pound(s)10 billion five-year raid on North Sea oil company revenues risks undermining the UK Government's credibility on taxation, MPs warn today.
The House of Commons Treasury Committee says in a report this morning: "The decision to increase the supplementary oil and gas levy by 12% without warning, less than a year after the Government had undertaken to provide a "stable" tax regime in the sector, may weaken the Government's credibility in seeking to establish a stable tax regime in this and other areas.See the full content of this document
Extract
Mps' Warning Over Oil Tax Raid
"Such reversals of policy in the ab...
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