Mark Williamson: Costs of North Sea tax breaks laid bare
AS the costs of the pandemic to taxpayers mount, oil heavyweights have provided a reminder that the North Sea industry is unlikely to ease the strain on the public finances much. In its latest report on payments to governments, Royal Dutch Shell underlined just how much it will cost the Government to help firms cover the huge costs that will be involved in decommissioning redundant North Sea assets. Shell revealed that it was repaid $99 million by the Government last year. The repayment reflected the fact the costs of decommissioning the once mighty Brent field more than offset the prof...
Source: heraldscotland.com