division_name: Finance Bill &#8212; Corporation tax treatment of the oil and gas industry
motion: <p class="indent" pid="a91.6/5" pwmotiontext="yes">&#8220;From the analysis of the economics of new field investments and exploration in current circumstances in the UKCS it is clear that, at $50 and $60 prices, there are many &#8216;marginal project investment situations&#8217;.&#8221;</p>
  
  <p class="indent" pid="a96.0/2" pwmotiontext="yes">&#8220;a series of data publications during the late summer and autumn will inform a proper response at the autumn statement.&#8221;&#8212;[Official Report, <phrase class="date" code="2016-07-19">19 July</phrase> 2016; Vol. 613, c. 664.]</p>
  
  <p class="indent" pid="a100.0/14" pwmotiontext="yes">&#8220;Patent Box is poorly targeted at research as the policy targets the income which results from patented technology, not the research itself&#8230;to the extent that a Patent Box reduces the tax rate for activity that would have occurred in the absence of government intervention, the policy includes a large deadweight cost.&#8221;</p>
  
  <p class="indent" pid="a100.0/16" pwmotiontext="yes">&#8220;scam with no effect on innovation&#8221;.</p>
  
  <p class="italic" pid="a108.0/3" pwmotiontext="yes">The House divided:</p>
  
  <p pid="a108.0/4" pwmotiontext="yes">Ayes 249, Noes 304.</p>