The chief executive of Scottish Chambers of Commerce has hailed tax relief talks for the North Sea as a “welcome first step” to maximising economic recovery.
Liz Cameron made the remark after Chancellor Philip Hammond revealed in his spring budget that an exerpt panel is to consdier if passing on tax relief on mature assets could be passed on to new operators.
She said: “The Chancellor’s confirmation that an expert advisory panel is being set up to consider how the fiscal regime can support the transfer of late life assets is a welcome first step towards ensuring that the North Sea sustains its economic contribution in the long term and maximises the recovery in the nearer term.
“Our hope is that not only will the expert report be available by the time of the Autumn Budget but that concrete measures will be announced at that time too.”
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