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Issue 456 | Autumn Statement

Issue 456 | Autumn Statement

Autumn Statement 2014––energy aspects 3 December 2014 On 3 December chancellor George Osborne presented the 2014 Autumn Statement to Parliament. Announcements related to energy were focused largely on the oil and gas sector; in particular the government re-affirmed its commitment to the development of a UK shale gas industry, in part by pledging to establish a sovereign wealth fund for revenues from the resource. Further steps towards improving the public’s attitude towards potential exploitation of the resource were also described. Osborne set out plans to reform the fiscal regime of the North Sea oil and gas sector, as the statement ...

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