The UK oil and gas industry has called on Chancellor Philip Hammond to use his Autumn Statement later this month to send “a strong signal of confidence and support” to investors.

Trade association Oil & Gas UK (OGUK) has written to Hammond asking for the new government to make a public re-commitment to a fiscal strategy published by the previous administration in 2014.

OGUK also asked for the introduction of new tax measures to make it easier to transfer assets in a bid to encourage new entrants to the basin.