Speech in Westminster Hall - Tue 20 Nov 2018
2019 Loan Charge
"It is a pleasure to serve under your chairmanship, Mr Walker. I congratulate my hon. Friend the Member for Wycombe (Mr Baker) on introducing the debate and being such a champion on this issue. My inbox and my surgeries have been inundated.
I represent Aberdeen South, which is the energy …..."Ross Thomson - View Speech
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Speech in Westminster Hall - Tue 20 Nov 2018
2019 Loan Charge
"My hon. Friend is absolutely right and I could not agree with him more. For many, this option seemed to be the obvious choice. The retrospective nature of this decision is causing great distress. As has been said, there is a huge human cost. I want to take this opportunity …..."Ross Thomson - View Speech
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Speech in Westminster Hall - Tue 20 Nov 2018
2019 Loan Charge
"I could not agree more. It seems to be easy pickings for HMRC. It is not going after those who are truly culpable. That is why such great distress is being expressed in our surgeries.
My constituent continued:
“This whole sorry affair has imposed life changing levels of stress on …..."Ross Thomson - View Speech
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Speech in Westminster Hall - Wed 27 Jun 2018
Scottish Economy
"You mentioned the lack of free-market forces. Do you agree with your shadow Chancellor when he says that he wants to overthrow capitalism and bring down Britain’s system of free enterprise? That would mean fewer jobs, less money for public services and untold damage to the Scottish economy. Do you …..."Ross Thomson - View Speech
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Speech in Commons Chamber - Tue 13 Mar 2018
Spring Statement
"I welcome the measures introduced by the Government to help the oil and gas industry, including a £2 billion package of support and the introduction of transferable tax history, which has been a much-needed shot in the arm. With the industry set to contribute over £1 billion in tax to …..."Ross Thomson - View Speech
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Written Question
Tuesday 6th February 2018
Asked by:
Ross Thomson (Conservative - Aberdeen South)
Question
to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential economic benefits arising from the proposals on transferable tax history in the oil and gas sector set out in Autumn Budget 2017.
Answered by Robert Jenrick
At the Autumn Budget, the government announced it would introduce a Transferable Tax History for oil & gas companies. This will give investors in UK oil and gas fields certainty that they will be able to get tax relief for decommissioning assets. This should encourage new investment in older oil and gas fields, keeping them producing for longer and supporting employment.
The main industry body, Oil and Gas UK, in response to the Budget announcement have said that a Transferable Tax History would be ‘a vital step that can bring in new investment to increase recovery from existing fields and fund fresh investment which is key to generating activity for our hard-pressed supply chain. It will also help extend the lives of many mature fields and postpone decommissioning.’
This builds on the £2.3bn of fiscal support the government has already provided to the UK oil and gas industry, including a package of tax cuts across Budget 2015 and 2016, £40m of funding for seismic surveys to support exploration, and the introduction of a new Investment Allowance. As a result, the UK now has one of the most competitive tax regimes in the world for oil and gas, further supporting investment and jobs.
Speech in Commons Chamber - Mon 20 Nov 2017
Duties of Customs
"Great Britain’s historical reputation as one of the greatest trading nations on earth can be revived and rejuvenated by Brexit. In freeing ourselves from our EU blinkers, we can now open our eyes to the rest of the world and the vast new opportunities that lie ahead of us. Scotland, …..."Ross Thomson - View Speech
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Speech in Commons Chamber - Mon 20 Nov 2017
Duties of Customs
"No, I will not give way at the moment. I want to make some progress.
As we decouple from the EU, I am excited by the opportunity for Scotland to play a key role in a global trading Britain once again...."Ross Thomson - View Speech
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Speech in Commons Chamber - Mon 20 Nov 2017
Duties of Customs
"I will give way...."Ross Thomson - View Speech
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Speech in Commons Chamber - Mon 20 Nov 2017
Duties of Customs
"Let us be absolutely clear that during that referendum campaign, the hon. Gentleman and I were on the same side. It actually said on page 210 of the White Paper produced by the Scottish Government that, if we voted to stay within the UK, the UK could very well leave …..."Ross Thomson - View Speech
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