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Treasury Announces Field Allowance Extension

Anne with ChancellorOn 28th January Anne welcomed the news that the Chancellor of the Exchequer is to extend the Treasury's Field Allowance scheme that gives tax breaks to companies exploring less commercially viable oil and gas fields to the fields West of Shetland. 

Anne said, "I am absolutely delighted the Chancellor is to extend the Field Allowance scheme to the West of Shetland fields. I hope this will incentivise companies such as Total to open up and explore these fields which would be great news for Aberdeen's oil and gas industry.

"I held a private meeting late last year with the Chancellor alongside my colleague, Frank Doran, where we lobbied the Treasury hard about this issue. I am very pleased that the Chancellor, having listened keenly to all the arguments, has decided to give the go ahead to this extension."

Promoted by Ray Collins, General Secretary, the Labour Party, on behalf of the Labour Party, both at 39 Victoria Street, London, SW1H 0HA.
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