North Sea Oil and Gas Producers: Investment Allowances Debate

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Department: HM Treasury

North Sea Oil and Gas Producers: Investment Allowances

Christine Jardine Excerpts
Monday 6th June 2022

(2 years, 5 months ago)

Commons Chamber
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Lucy Frazer Portrait Lucy Frazer
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As the hon. Gentleman will know, a consultation is ongoing, and the Government will be responding to it in due course. I am sure that he will read the report of our response with some interest.

Christine Jardine Portrait Christine Jardine (Edinburgh West) (LD)
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The Institute for Fiscal Studies—which, I am sure, understands the policy—has been critical of it, saying that the windfall tax is too generous and that

“It is hard to see why the government should provide such huge tax subsidies and thereby incentivise even economically unviable projects.”

Why are the Government providing incentives for projects of that sort rather than raising the money that would help out desperate families, and help them to feed their children?