Oil price plunge 'will lead to £1bn burden on taxpayers'
by Terry Macalister Energy editor from Environment | The Guardian on (#17ASC)
George Osborne introduces budget measures to help North Sea industry which is forecast to make losses until at least 2021
The North Sea oil industry, once a huge moneyspinner for the Treasury, is set to become a 1bn burden for the taxpayer next year as the plunging crude price hits revenues.
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