Scrapping Windfall Tax Early Could Cost UK £8.6bn by 2030, Say Campaigners

North Sea windfall tax showdown as campaigners warn ‘scandalous’ shake-up could cost Britain £8.6bn

Scrapping the North Sea windfall tax could cost the country more than £8billion by the end of the decade, climate campaigners say.The Government has already outlined plans to replace the charge – known officially as the energy profits levy – with a new scheme called the oil and gas revenue levy.This is due to happen in 2030 – but energy firms are pushing for the replacement regime to start earlier.Industry body Offshore Energies UK (OEUK) says i…

Scrapping windfall tax early could cost UK £8.6bn by 2030, say campaigners

The campaign group Global Witness has written to Chancellor John Healey.

Oil firms accused of pushing for tax breaks after ‘cashing in’ on Middle East crisis

Scrapping the windfall tax early could cost the UK £8.6bn by 2030, campaigners have said