It has been revealed that the government is to increase the tax incentives offered to gas and oil companies wanting to decommission current rigs. This will lead to a significant investment into the North Sea energy industry, with recruitment agencies likely to note increased vacancies within the sector.
With the government keen to address any problems regarding a future energy shortage, officials have announced that further tax reliefs are to be made available to rig decommissions. This will allow companies to invest around £40m into the sector, building new rigs and facilities that will, in turn, create new jobs.
Speaking of the new tax incentives, the economic secretary to the Treasury, Chloe Smith, said that offering decommission advantages would actually increase revenues in the long term. “This is great news for jobs not just in the North Sea, but across the UK. These changes will also benefit the taxpayer, with increased tax revenues in the long term boosting the public finances,” Ms Smith added.
For recruitment agencies, the move is set to result in an increased number of opportunities for energy sector workers to take advantage of. Whilst rig decommissions will initially shed jobs, the building of new facilities and operations will create a booming energy sector, ideal for recruiters to place workers in. With the government keen to ensure that there is enough power for Britain in the future, placing staff in the energy industries will be a lucrative prospect.