Oil for trains programme worries

The opposition and oil industry analysts are calling on the government to re-think its plan to increase taxes on North Sea oil producers as a way to raise money to invest in railways.

“You just can’t be taxing companies so much that they decide to leave the country,” Lars Barfoed, the Konservative leader, said.

Barfoed’s statement came after US-based oil company Hess yesterday became the second firm to announce that it would it not seek exploration licences as a result of the changed tax rules, which are hoped to generate an additional 28 billion kroner.

The tax minister, Holger Nielsen (Socialistisk Folkeparti), said he expected other companies to be able to take over the vacancies. 

DR Nyheder

SEE RELATED: AmCham: Denmark too expensive for international investors

This story was included in The Copenhagen Post's Morning Briefing for Friday, September 20. If you would like to receive stories like these delivered to your inbox by 8am each weekday, sign up for the Morning Briefing or one of our other newsletters today. 

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