Ministers are understood to be considering a “big” tax cut to help the North Sea oil and gas industry.
According to reports in The Sunday Times, executives have been in talks with the Treasury since last month, when the Prime Minister visited Aberdeen.
The newspaper reported that industry body Oil & Gas UK has tabled a package of measures last week which would includes a “permanent and significant” reduction to the 67.5% and 50% headline rates for older fields, as well as more recent developments.
A proposal has also been made for a 30% reduction over the next five years on new discoveries, in a bid to boost exploration.
Earlier this month, Scottish Energy Minister Fergus Ewing revealed a fresh estimate of potential job losses from the industry, placing the figure at almost 10,000.
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