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Osborne used a budget five years ago to raise the supplementary charge on oilfields from 20%to32%20%to32%
"The supplementary charge levied on oil and gas production will increase from 20%to32%20%to32%
Seats in the first three rows subject to a supplementary charge.
The chancellor halved a supplementary charge levied on offshore fields and completely abolished a 30% petroleum revenue tax.
The industry gets £1bn of tax cuts as the supplementary charge on oil and gas is cut from 20%to10%0%.
The Liberal Democrats will press for a supplementary charge on banks until 2017-18 to be announced in next month's budget, Danny Alexander, the Treasury chief secretary has announced.
The levy would apply to UK residents with more than £10m in assets, with a supplementary charge for those with more than £20m in shares and property.
Osborne used the autumn statement to make an initial cut to the North Sea supplementary charge – from 32%to30%0% – but it was widely interpreted as being too little, too late.
30% supplementary charge.
A reversal of the increase in the supplementary charge introduced by the UK Government in 2011.
Industry body Oil and Gas UK said special taxes, particularly the supplementary charge, should be scrapped.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com