"It is clear to me that the fall in the oil price poses a pressing danger to the future of our North Sea industry unless we take bold and immediate action," [George Osborne] announced when presenting the UK's 2015 Budget.
"The oil and gas industry, which supports 450,000 UK jobs and is a major contributor to GDP, has been given a much-needed boost with the reduction to the supplementary charge and other incentives," commented John Cridland, CBI director general.
Meanwhile Pat Rafferty, Scottish secretary for the UK's largest offshore trade union, Unite, said, "We are clear that economic reform of the North Sea must go hand-in-hand with sustaining jobs and strengthening employment and workplace health safety rights".
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