March News Round Up
March saw George Osbourne’s budget announced and potential role it will play in the North East’s economic prosperity. With this, North Sea oil and gas tax breaks were announced, encouraging inward investment and boosting the industry, helping it to continue to contribute significantly to UK jobs and the wider economy.
We round up the news highlights from March.
Can the Hopes of North-East Businesses fit in a little red briefcase?
Today’s Budget represents one of the last opportunities for the Coalition to inject growth into the economy.
The oil and gas industry has proved itself to be a significant contributor to the wellbeing of the North East region and as George Osbourne prepares to make his speech The Northern Echo asks North-East businesses what they would like to see in George Osborne’s red briefcase[…]
Tax Breaks Boosts Confidence and Activity in North Sea
Oil & Gas UK said its confidence index increased to 60 in the last quarter of 2012 from 58 in the previous three months as services firms cashed in on increased investment in the North Sea by industry giants.
A reading above 50 is considered positive. Confidence levels have increased in the North Sea where tax breaks introduced last year have started to boost activity levels[…]
North Sea oil investment at 30-year high
Investment in the North Sea is the highest for 30 years and rising, according to a report by an oil and gas trade body.
Companies looking for offshore energy invested £11.4bn in 2012, said Oil and Gas UK, which comprises more than 320 companies active in the area[…]