Oral question asked in the House of Commons, by Vincent Cable (Liberal Democrat). It was answered on Thursday, 8 December 2005 on behalf of the Treasury.
Inflation
- Question
- In his statement on Monday, the Chancellor argued that because the main cause of recent inflation was high oil prices, petrol duties would be frozen and taxes increased on the North sea. If oil prices fall to the level before the recent shock, is it therefore Government policy that petrol duties will be increased and the increase in taxation on the North sea reversed?
- Answer
-
The policy on fuel prices is as I have set out previously. As for the North sea, I want to give stability to oil companies during this Parliament. Opposition Members clearly do not want the revenue of £2 billion a year from the increase in North sea oil taxes, so they had better tell us which services they will cut to make possible the loss of that revenue.
Secondary information
- Type
- Oral question
- Reference
- 440 c981-2
- Session
- 2005-06
- Oral question type
- Supplementary
- Chamber / Committee
- House of Commons chamber
- Subjects
- Economic situation Inflation Oil Prices North Sea
- Link
- View this Oral question on www.publications.parliament.uk
Librarians' tools
- Timestamp
- 2022-02-17 11:53:56 +0000
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