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21 March 2007

The North Sea Fiscal Regime, a discussion paper

The 2005 Pre-Budget Report saw the announcement of discussions with industry to examine wider structural issues that have implications for the stability of the North Sea fiscal regime. Published alongside Budget "The North Sea Fiscal Regime: A Discussion Paper" reports back to Industry on those discussions, setting out:

  • How the current fiscal system works, and the issues that industry raised with it during the discussions;
  • The Government's initial conclusions on those issues; and
  • The criteria against which any options for change will be assessed.

The purpose of this paper is to assist Government in its consideration of the issues raised and possible options for further action through forming the basis for further, more focused, discussions with industry. The Government recognises the expertise that those in the industry have in this area and is keen to involve them in the ongoing process.

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