The UK oil and gas sector are to get extra help in the Budget to help them deal with their current crisis.
With oil prices falling, Mr Osborne gave a series of tax breaks to the sector last year and has now added further measures.
He revealed he would halve the supplementary charge on oil and gas from 20 per cent to ten per cent, while stating he would be "effectively abolishing" petroleum revenue tax.
Both measures will be backdated to January 1st this year to provide extra help.
Mr Osborne attacked the Scottish Nationalists, stating that if they had succeeded in getting a yes vote in the 2014 independence referendum, Scotland would now be about to leave the UK and would not have the resources to offer the help the North Sea oil and gas sector is about to get.
In its White Paper on independence published ahead of the referendum, the Scottish government had based its revenue and spending calculations on an oil price of £113 a barrel.
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