Sunak Stands Firm on Oil, Gas Windfall Tax in Industry Meeting

Sunak Stands Firm on Oil, Gas Windfall Tax in Industry Meeting

From bnnbloomberg.ca

UK Chancellor of the Exchequer Rishi Sunak remained committed to his windfall tax on oil-and-gas profits despite protests from industry executives during their first meeting since the announcement. Sunak, who announced last month he would impose the 25% levy, told them the tax would be temporary and is a vital way to support households facing a surge in the costs of living. The discussion with about 20 oil and gas business leaders, which took place in Aberdeen, Scotland, on Thursday, was “candid and constructive,” according to the Offshore Energies UK industry group. But the lobby reiterated that it would hit ... (full story)

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