The industry employs hundreds of thousands of individuals in Scotland; the cut in the PRT and supplementary charge signals that the Government has taken a long - term view to protect the industry in recognising that its role is to mitigate as best it can against the natural fluctuation of the oil and gas commodity prices.» (politics.co.uk)
Labour must give their full support to the immediate reduction in the supplementary charge and support an exploration tax credit that would secure a strong future for the North Sea. (itv.com)
The industry, which is a major employer in Scotland's North - East, will also benefit from a reduction in the supplementary charge for oil companies from 20 % to 10 % and this will be backdated to 1 January 2016. (politics.co.uk)