The UK government’s decision to levy a windfall tax on energy firms could damage investment in the North Sea, an industry leader has warned.
Last month, Chancellor of the Exchequer Rishi Sunak announced a temporary windfall tax on oil and gas giants to fund a relief package for households struggling with rising bills. The government will introduce a 25 percent profit levy on energy firms, which it expects to generate £5 billion ($6 billion) in tax revenues.
Offshore Energies UK, which represents the offshore oil and gas industry, criticised the new levy during a roundtable meeting in Aberdeen on June 23, which Sunak attended….
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