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Sledgehead

Oil, Politics, The Pre-budget

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So the (other) big losers from Gordie's deck-chair shifting are those oil companies with intersts in the North Sea, who will see a doubling in the supplementary tax they pay on extraction.

So now our "business friendly" government can add another extraordinary tax to this list:

Windfall tax on privatised Utlities

Effective 5bn tax on comapny pensions via removal of the tax credit

Multi-billion tax on telecoms for 3G licences

Confiscation of the Railways

Development Land Tax

Having been told by the boss of Tullow oil that the tax would mean a bill of 15m (they only made 25 last year) I did the ethical thing and decided to switch on Tullow's good news into Burren who have no N Sea Oil interests, but do have interests in, of all places, Turkmenistan - home to perhaps the world's last true nutcase despot, Turkmenbashi.

On speaking to Burren's FD wrt Gordon's NSea oil tax, the chipper FD quipped: "Yes, I'm glad we don't have operations in such politically risky territories!"

Priceless :lol:

Edited by Sledgehead

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The annoying thing is, WE pay it all in the end. All taxes levied on companies will filter down to the people that buy the products and services, us. Never mind! :(

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Guest magnoliawalls

On speaking to Burren's FD wrt Gordon's NSea oil tax, the chipper FD quipped: "Yes, I'm glad we don't have operations in such politically risky territories!"

Priceless :lol:

:lol::lol::lol::o

But what will the effect of this be - will it discourage investment in future extraction of marginal reserves in the North Sea?

I agree that we end up paying, but not so sure it will be through products and services. Maybe more in terms of jobs in Aberdeen and increased dependence on oil imports from the middle east.

Perhaps this will make turning Iraq into a "police station" seem like a better investment of UK £££ and lives.

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:lol::lol::lol::o

But what will the effect of this be - will it discourage investment in future extraction of marginal reserves in the North Sea?

Why in such a hurry to burn all our oil? Leave it in the ground! Use some other countries reserves first while the price is still relatively cheap. In 50 years time any oil we have left 10 times the value they are now. And we'll be glad of any energy independence we have left.

(but agree this is a tax on all of us - could just as well put it on income tax)

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no accountant

Why in such a hurry to burn all our oil? Leave it in the ground! Use some other countries reserves first while the price is still relatively cheap. In 50 years time any oil we have left 10 times the value they are now. And we'll be glad of any energy independence we have left.

I said the same thing about coal back in the eighties but the thugs running the country want it all now.

The new windfall tax on Oil has guaranteed power cuts this winter, wholesale gas prices went up 500% the other month in the UK.

Luckily Justice has an old house with two large brick chimneys so on top of diesel and gas, he’s going to install a solid fuel boiler so if he’s skin flint, he will still be warm this winter.

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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