Updated: Calls for UK Government to sort out ‘cashflow conundrum’ and save North Sea jobs

Politicians and industry lobbyists are calling for the UK Government to help save hundreds, if not thousands, of threatened North Sea jobs by urgently tackling a “cashflow conundrum”.

They are appealing to Westminster to pay out tax reliefs early so that oil companies can afford to carry out offshore well decommissioning campaigns next year.

Oil and gas companies can claim back some of the taxes they previously paid to help cover decommissioning costs.