Oil and gas industry executives will seek clarity on three key points from Chancellor Rishi Sunak in a high-level meeting about the windfall tax in Aberdeen on Thursday.
Rishi Sunak has announced a multibillion-pound windfall tax on oil and gas, which the industry has slammed as sending "shockwaves" on jobs, investment and communities.
A windfall tax, reportedly due to be announced today, risks “destabilising” a planned £200bn of investment in the UK energy system this decade, the industry trade body has warned.
Aberdonians want oil and gas to continue without a tax on excess profits while work continues on the shift to greener energy, according to senior Tory Michael Gove.
The leading offshore UK trade body has claimed North Sea firms could spend up to £250 billion domestically by 2030, “far greater” than any sum to be raised through a windfall tax.
Chancellor Rishi Sunak will come under pressure to offer more support to working families in financial pain as he makes his spring statement on Wednesday.
Banks and asset managers representing 40% of the world’s financial assets have now pledged to meet the goals set out in the Paris climate agreement, as an alliance championed by former central banker Mark Carney swells under the gaze of a world increasingly alarmed by planetary warming.
Chancellor Rishi Sunak has come under fire for “failing to provide much needed clarity” on future carbon capture projects after a snub for the Acorn project last week.