THE UK Government has been warned not to “shoot from the hip” on future tax changes for the oil and gas industry after First Minister Alex Salmond called for new legislation to stop the Treasury imposing shock levy increases.
Industry analysts said yesterday that the sector could begin to trust the government again if it was consulted on planned tax rises.
Mr Salmond has said Chancellor George Osborne should introduce a statutory consultation period between oil and gas representatives and the Treasury before any future changes to the regime.
David Barclay, divisional director at investment management and financial planning specialists Brewin Dolphin in Aberdeen, said the idea would be a positive step for the sector.
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