Sea Oil

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Frequently Asked Questions...

North sea oil, was the extra tax a mistake?

The new tax on North Sea Oil might stop firms exploring rather than generating extra revenue for the uk. Was the additional tax from the recent budget a big mistake? Will jobs be lost?


Best Answer...

Answer:

For a lot of reasons it would have been better to tax the fuel rather than the oil but it was a political decision made in the best interests of the government and not in the best interest of the country

Its hard to know if it will make much difference because oil-prices are so volatile anyway but it certainly won't help develop the oil reserves that we have

I have no objection to taxes - the money has to come from somewhere to fund the services that define a civilised country