§ Mr. Derek TwiggTo ask the Chancellor of the Exchequer what changes he plans to make to petroleum revenue tax legislation for pipelines in the North Sea. [60383]
§ Dawn PrimaroloIn the next Finance Bill, the Government intend to make a minor change to legislation introduced in the Finance Act 1994 which helped remove possible distortions in North Sea pipeline competition. This change is to ensure that, for pipelines subject to the 1994 rules, tariffs received for transporting oil and gas to the UK from fields in other countries are taxed in the same way as tariffs for transporting oil or gas from new UK fields. This change will allow these pipelines to compete more fairly for the transportation of non-UK oil or gas.