High oil taxes here to stay, says Brown

Oil taxes will not be cut if the oil price falls, Gordon Brown indicated

Vince Cable, the Liberal Democrat Treasury spokesman, yesterday called for
the chancellor to ‘reverse’ the tax change that netted Brown an extra £2bn a
year in Monday’s pre-Budget report if oil prices fell below $57 a barrel.

Mr Brown replied: ‘As far as the North Sea is concerned, I want to give
stability to the oil companies over this parliament.’

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