DTI in new North Sea drive
At a conference in Scotland later this month, the Department of Trade and Industry will unveil plans to reduce the bureaucratic burden on companies by streamlining the amount of information they have to provide.
Tim Eggar, the energy minister, is also expected to urge equipment and infrastructure companies to do more to exploit British technology in oil and gas fields overseas.
But a DTI source said the main thrust would be a package to cut the costs of complying with rules and regulations. It will be one of the first moves in a drive by the department under the leadership of Michael Heseltine to forge a better relationship with industry.
However, the Government will fall short of announcing a reduction in the huge taxes on North Sea operators. North Sea production companies pay a petroleum revenue tax of up to 75 per cent. Companies operating in older fields also pay a royalty of 12.5 per cent on the value of oil produced.
- 1 BBC told new political editor must be 'impartial' with Nick Robinson reportedly stepping down
- 2 Number of young homeless people in Britain is 'more than three times the official figures'
- 3 Humans of New York image of crying gay teen receives best response yet from Ellen DeGeneres
- 4 The map showing the most dangerous tourist destinations in Europe, according to the Foreign Office
- 5 Swedish minister gives strongest case yet on why EU should stop turning away asylum seekers
More Britons believe that multiculturalism makes the country worse - not better, says poll
Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
Greece crisis: IMF was pushed around by Angela Merkel and Nicholas Sarkozy – and now it is being humiliated
Forget little green men – aliens will look like humans, says Cambridge University evolution expert
Girl, 7, stares down hate preacher at Ohio festival with pro-LGBT rainbow flag gesture
Osborne to cap family benefits at £23,000 – announced ahead of his post-election Budget
iJobs Money & Business
£15000 - £17000 per annum: Recruitment Genius: This company offers a range of ...
£15000 - £16000 per annum: Recruitment Genius: Customer Service Advisors are r...
£20000 - £25000 per annum + OTE £45K: SThree: SThree were established in 1986....
£40000 - £60000 per annum: Recruitment Genius: A Compliance Manager is require...