Tuesday, January 20, 2015

Scotland's struggling North Sea oil industry WILL be bailed out by British taxpayers, Osborne admits

Scotland’s struggling oil industry will be bailed out by the UK Government, George Osborne revealed today.

The Chancellor said he had already cut taxes on North Sea oil to protect jobs in the industry, amid rapidly falling prices, but would take ‘further steps at the Budget’ in March to help.

But Mr Osborne also revealed that MPs representing Scottish constituencies could be barred from voting on parts of the Budget after the election – once the Edinburgh government had been handed sweeping new powers over tax and spending .... http://www.dailymail.co.uk