Cameron must help oil industry
COMMENT NEWS: Firms set for Huhne meeting– Page 13
THE shockwaves sent through the oil industry by George Osborne’s surprise £2 billion a year tax grab are clearly having a damaging impact. Already one Norwegian firm has cancelled £6bn in investment and there are also real fears for jobs. There is now an air of uncertainty in what should be a bedrock for our economy, both here in the North-east and at a national level. Against that background, Prime Minister David Cameron has no choice but to step in and help repair the harm done. He needs to find ways to reassure oil firms and ensure they don’t take this ill-thought out policy as a signal to abandon the North-east.