{"id":42978,"date":"2018-09-03T08:07:13","date_gmt":"2018-09-03T07:07:13","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=42978"},"modified":"2018-09-03T08:07:13","modified_gmt":"2018-09-03T07:07:13","slug":"london-is-giving-away-scotlands-oil-revenues","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2018\/09\/03\/london-is-giving-away-scotlands-oil-revenues\/","title":{"rendered":"London is giving away Scotland&#8217;s oil revenues"},"content":{"rendered":"<p>As the<a href=\"https:\/\/www.ft.com\/content\/f13c9aa4-ad0f-11e8-89a1-e5de165fa619?segmentId=6132a895-e068-7ddc-4cec-a1abfa5c8378\" target=\"_blank\" rel=\"noopener\"> FT has reported<\/a> this morning:<\/p>\n<blockquote><p>Tom Mitro, who managed Chevron\u2019s taxation and financial planning in the North Sea in the 1990s, said [a new tax] scheme could deprive the Treasury of more than \u00a33bn in tax over the next decade.<\/p>\n<p>\u201cOverall impact on the Exchequer of [the transferable tax history scheme] could range from virtually zero to roughly [a] \u00a33bn [plus] reduction in tax receipts over the next 10 years depending on oil prices and [the] number of asset sales and decommissioning [of North Sea platforms and pipelines],\u201d he said in a research paper prepared for Global Witness, the non-governmental organisation.<\/p><\/blockquote>\n<p>But why does the Treasury care? If it assists the spin that Scotland cannot survive on its own, I suspect that's considered a price worth paying. And I would not be at all surprised\u00a0if that is part of the political motivation for this.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the FT has reported this morning: Tom Mitro, who managed Chevron\u2019s taxation and financial planning in the North Sea in the 1990s, said [a<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2018\/09\/03\/london-is-giving-away-scotlands-oil-revenues\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[140],"tags":[],"class_list":["post-42978","post","type-post","status-publish","format-standard","hentry","category-scotland"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/42978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=42978"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/42978\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=42978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=42978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=42978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}