Scotland Offers Tax Break to Oil Companies Stung in U.K. Budget
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Scotland Energy Minister Fergus Ewing said he wants to entice investment in the oil and gas industry and become a hub for offshore wind developers by reducing corporate taxes levied in the U.K. government budget.
“The budget was difficult for us,” Ewing said today in an interview at Bloomberg News headquarters in New York. “Oil and gas producers want stability and we’re giving it to them. The tax-equity grab is not what people expected from the U.K.”