Oil Industry Fears 'End of Boom' As Brown Plans North Sea Tax Rise

Summary

---

GORDON Brown is expected to launch a review of North Sea taxes in his pre-Budget report tomorrow that will pave the way for a fresh GBP 500m raid on oil company profits next year.

Whitehall sources have said that the Chancellor is considering raising the supplementary corporation tax on oil companies by a further 5 per cent to help pay off the GBP 34bn public sector deficit.

See the full content of this document

Extract

---

Oil Industry Fears 'End of Boom' As Brown Plans North Sea Tax Rise

Following the plunge in North Sea investment that was caused by his last major tax hike in 2002, Brown is believed to be planning to launch a review first, to cush...

See the full content of this document

---