The tax allowance will shield up to ?250m of income from some projects in brown field sites, he said. That figure rises to ?500m for projects in fields paying the petroleum revenue tax.
The Chancellor said in a statement: ?Today?s tax allowance is more good news for the North Sea, good news for jobs and good news for the broader economy. It will give companies the incentive to get the most out of older fields, creating jobs and delivering more revenue for taxpayers."
He hopes the savings generated by the tax break will encourage firms to invest more in older oil fields in the North Sea, which he called "a huge national asset".
There will be an initial upfront charge for the intial cost of the allowance, the government said, but it believes the long-term tax revenues this generates will "significantly outweigh" this. Initial estimates but the charge around ?100m.
In July, the Chancellor pledged hundreds of millions of pounds of tax breaks to encourage more drilling for gas off the coast of the UK. Hours after that announcement, British Gas owner Centrica pledged to plough ?1.4bn into developing its Cygnus gas field in the North Sea.
It has also introduced tax relief on decommissioning rigs and the introduction or extension of allowances for small fields.
A team of scientists has smashed the record for the shortest-ever laser pulse, producing one that lasts just 67 billionths of a billionth of a second—which is short enough to use it to image individual electrons orbiting the nuclei of atoms. More »
This Wednesday, Jan. 11, 2012 photo shows actor Michael Clarke Duncan in New York. Duncan has died at the age of 54 on Monday, Sept. 3, 2012 in a Los Angeles hospital after nearly two months of treatment following a July 13, 2012 heart attack, his fiancee, the Rev. Omarosa Manigault, said. (AP Photo/Carlo Allegri)
This Wednesday, Jan. 11, 2012 photo shows actor Michael Clarke Duncan in New York. Duncan has died at the age of 54 on Monday, Sept. 3, 2012 in a Los Angeles hospital after nearly two months of treatment following a July 13, 2012 heart attack, his fiancee, the Rev. Omarosa Manigault, said. (AP Photo/Carlo Allegri)
LOS ANGELES (AP) ? Michael Clarke Duncan's life will be celebrated with a public casket viewing and a private service next week.
Duncan spokeswoman Joy Fehily said Wednesday that the Oscar-nominated actor's casket will be on view from 9 a.m. to 2 p.m. Sunday at the Hall of Liberty at Forest Lawn Memorial Parks and Mortuaries in Los Angeles. A private, invitation-only service will follow on Monday.
"The Green Mile" star died Monday at Cedars-Sinai Medical Center after failing to recover from a heart attack in July. He was 54.
Health and Fitness | Men's Health | * Written by John Dugan | Wednesday, 05 September 2012 09:16 | Word Count: 705
Men of all ages - even those who are not sexually active - are likely to develop a penis rash from time to time. In most cases, a red, itchy penis causes mild to moderate discomfort, but is not a cause for alarm. While it is normal for a penis rash to raise concerns about sexually transmitted disease, the answer is usually far less frightening and more easily dealt with. Daily skin care with penis-specific vitamins and minerals can help to prevent common infections that can cause penis rash, soreness, and itching; however, it is a good idea to be aware of the following penis infections, as well as their causes and the best methods for treating them. Men who experience an ongoing penis rash that does not respond to treatment, gets worse, or is accompanied by flu-like symptoms, should seek medical attention as soon as possible.
Yeast Infection - There is a common misconception that yeast infections are a female issue, but the fact is that men are just as prone to this common condition as women. The candida yeast develops in areas that are warm and moist, especially when the body?s natural pH level is out of balance. Yeast infections can cause a red, spreading rash, along with mild to severe itching, and dry, peeling or flaking skin. Candida infections are easily transferred back and forth between sexual partners, so treating them and abstaining from sex until they resolve is necessary.
Avoiding yeast infection is not always possible, but keeping the genital area clean and dry and keeping the skin in balance with natural moisturizers and penile skin nutrients may help to prevent yeast overgrowth resulting in an uncomfortable skin condition.
Jock Itch - The skin is covered with tiny organisms known as dermatophytes, which comprise a variety of different types of fungi. Most of these organisms are perfectly harmless, but some of them can grow into fungal infections under the right conditions. The fungus known as tinea cruris tends to thrive in warm, moist environments, and when the genital area is not kept clean and dry, a red, spreading, itchy rash can develop. This condition is highly contagious and can be spread through sharing towels or clothing and transferred to sexual partners. Athletes who wear tight, supportive clothing or men who are overweight or sweat easily are more likely to experience this uncomfortable penis rash.
The key to avoiding the symptoms of jock itch is to keep the area clean and dry, wear loose, breathable clothing, as well as treating the skin of the penis with a nutrient formula that boosts the body?s natural infection-fighting ability with vitamins such as A, C and D.
Balanitis - This condition is more often seen in men who are not circumcised and is generally related to hygiene issues. Balanitis presents as an itchy rash, reddened skin, burning and swelling. If the urethra (the opening of the penis) is affected, painful urination may occur.
Preventing balanitis requires keeping the penis, and especially the area under the foreskin, clean, dry and well moisturized. Natural antibacterials such as vitamin A can be used to prevent bacterial infections from developing, as well as to soothe irritation and discomfort related to this common penile skin condition, while vitamin C promotes rapid healing and healthy skin tone.
Penis rash prevention and treatment
In addition to maintaining adequate personal hygiene and refraining from sharing items such as towels, clothing and athletic supporters, treating the penis with vitamin products designed to promote healthy skin is suggested. Penis rash and itching can be alleviated through the use of a specialized penis health formula (most health professionals recommend Man1 Man Oil) which contains natural hydrating agents such as shea butter and vitamin E, as well as disease-fighting antioxidants and nourishing vitamins and minerals.
For additional information on most common penis health issues, tips on improving penis sensitivity, and what to do to maintain a healthy penis, visit: http://www.penishealth101.com. John Dugan is a professional writer who specializes in men's health issues and is an ongoing contributing writer to numerous online web sites.
