It’s the other way round down here. Reform, Restore and the Conservatives leading that message on opening up the North Sea.
Interesting question for Scottish independence. Would the North Sea revert to government ownership and all existing contracts cancelled? I guess they think it would.
I’m not even sure if that’s possible is it?
Can a government force the current licence owners to sell?
As things are, private corporations sell North Sea oil & gas to the world market, so how these idiots claim it’s “our oil” is beyond me.
Those companies have licences to extract and sell the oil and gas, I would think there are ways those licences can expire, be revoked or bought out.
The question should be how much? I’d expect some termination clause(s) but they would likely come at a cost.
Yeah, but much of that was from the previous conservative government’s mishandling of the economy. Things were already starting to improve under the following Labour government and it only failed to win the election because the unions went out on strike a couple of months before and stayed out because the government wouldn’t pay them more than the 5% they were offering to pay.
A sliding doors moment for all involved.
Does the Scottish government get the revenues from the oil now? I would assume ownership sits with the government in Westminster?
Revenue goes to the oil companies. Taxation takes some of that back into Westminster. There’s a specific tax for it I think.
That’s what I mean, the tax revenue goes to Westminster. Scottish government may argue for more cash when oil prices go up to reflect tax revenue from those nearest oil/ gas fields but I’m not sure they have any claim to them, without Westminster first agreeing to it.
There’s also the windfall tax as well. I’m not sure Scotland has any way of getting hold of some of that either.
They did get a payout for HS2 though. Wales hasn’t.
It gets complicated.
Exploration and production it’s around 78% tax.
Decommissioning and they actually get paid for that.
Fucking loopy
How would you describe the UK tax system in 2 words?
I think that the car industry is an interesting arc in the Uk. The Uk probably had as good an industry as anyone in the world at the end of WWII. By the end of 70s early 80 it was basically circling the drain. Meanwhile the US, Germany and Japan continued to sustain theirs. The Chinese tried to copy and squeeze in but it really was the stupidity of the German, Japanese and US companies in the early 2000s that China has managed in many ways to make them all irrelevant. Through sticking largely to producing cars that burn fossil fuels, they have made themselves irrelevant.
The industry I work in has largely moved East to China and India. I could moan about IP stealing and copying… but it is Europe that is completely at fault here. Europe is just not agile enough in terms of providing funding (government or VC), of not having mechanisms to enable medium and small companies and meanwhile the people are completely entitled and moaning about being supplanted by Chinese or Indian enterprises.
The Uk has (will be “had” in a couple of decades) some of the best teaching institutes and instead of aligning them with industry to innovate, they were aligned to trying to be a service industry… Someone mentioned that the Uk turning into a service industry based economy was a good thing - I would say it was a complete disaster and we will continue to reap the “benefits” for decades to come…
British Leyland was an absolute shitshow. I remember when my parents lived in London, they ordered a car - delivery was four months late. When notified they could come pick up their sand-coloured vehicle, it was in fact red.
To be fair, a much better look, but it was only the beginning of a cycle of discontent - the quality of the electrical system was shocking.
I fucking love that film.
The end of Reform?
Nah he retires as much as crusty the clown…hell wait for this £5 million to blow over and come back with something along the the lines of " i could not sit back and do nothing as my country was being destroyed "…
Turns out the grifting little twat is triggering a by-election to fight back against the establishment trying to bring him down
What an odious little cunt he is. It could have been Trump standing there talking.
Anyone know if any investigation against him will then cease as he stood down, then if he wins etc cannot continue against him etc?
Because this has grift all over it.