Proceeding contribution from Lord Beamish (Labour) in the House of Commons on Tuesday, 3 May 2011. It occurred during Debate on bill and Committee of the Whole House (HC) on Finance (No. 3) Bill.
Finance (No. 3) Bill
It does, and that leads us to the point about how we would arbitrate in disputes between different companies. My hon. Friend the Member for Aberdeen South (Dame Anne Begg) mentioned the fact that decisions on investment in oil and gas are not taken in this country, but in Houston, Calgary and other parts of the globe, so the North sea and exploration in this country is competing for investment from around the world. If companies have to jump through hoops to negotiate their individual tax liabilities before trying to put an appraisal together, I am sure that decision makers will go for the easier options so that they know what the return on investment will be, rather than the uncertainty that this has left us with.
Secondary information
- Type
- Proceeding contribution
- Reference
- 527 c619
- Session
- 2010-12
- Chamber / Committee
- House of Commons chamber
- Subjects
- Banks Financial services Excise duties Fuels EU economic policy Exploration Economic growth Oil Pay Natural gas Public expenditure Prices Offshore industry Regulation Taxation VAT Tax yields North Sea oil Bank levy
- Legislation
- Finance (No. 3) Bill 2010-12
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2023-12-15 16:16:05 +0000
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