Try GOLD - Free
Reeves told: Change windfall tax to raise £137bn by 2050
Birmingham Mail
|September 01, 2025
CHANCELLOR Rachel Reeves has been urged to reform the windfall tax in a move that could boost the economy by £137 billion by 2050.
-
Ahead of the start of its conference in Aberdeen this week, trade body Offshore Energy UK (OEUK) released a report claiming replacing the energy profits levy next year with a profits-based mechanism could increase investment and output in the North Sea.
The UK Government has previously said the windfall tax - which currently sits at 38% - would be scrapped in 2030, or potentially earlier if oil and gas firm profits fall below a certain level.
The replacement, OEUK has said, would be triggered by “unusually high prices” and would be levied against excess profits.
This story is from the September 01, 2025 edition of Birmingham Mail.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Birmingham Mail
Birmingham Mail
Moors boss gutted after epic FA Trophy shoot-out defeat
CHRIS Millington admitted he was ‘gutted’ after seeing his Solihull Moors side exit the FA Trophy following a dramatic penalty shootout.
2 mins
December 15, 2025
Birmingham Mail
Strictly finalists revealed after exit
STRICTLY Come Dancing's 2025 finalists have been revealed after EastEnders actress Balvinder Sopal became the latest contestant to leave the show.
1 min
December 15, 2025
Birmingham Mail
It's a cracker! Jokes about Celeb Traitors and Oasis top list
JOKES about The Celebrity Traitors, Oasis and Sabrina Carpenter feature in a list of this year's top 10 Christmas cracker gags.
1 min
December 15, 2025
Birmingham Mail
Sydney attack: 12 dead
AT least 12 people, including a British-born rabbi, have died and 29 have been injured by two \"terrorist\" gunmen who targeted a Jewish celebration at Bondi Beach, in Sydney, Australian police have said.
2 mins
December 15, 2025
Birmingham Mail
Residents distraught after trees destroyed
TRAIL OF WRECKAGE LEFT BEHIND AFTER TRAVELLERS SET UP CAMP IN PARK
2 mins
December 15, 2025
Birmingham Mail
Sitting back far too early costs Blues chance of win
CHRIS Davies felt Birmingham City should have beaten Charlton Athletic - but conceded his players 'went into protective mode too early.
4 mins
December 15, 2025
Birmingham Mail
Rob proud of side despite own-goals nightmare at Emirates
WOLVES frustrated Arsenal all night on Saturday and will feel unfortunate to leave north London empty-handed.
3 mins
December 15, 2025
Birmingham Mail
BUSINESS STARTED DURING COVID
A BUSINESS in Sutton Coldfield which started as a three-day-a-week popup has now opened its first permanent town centre premises.
2 mins
December 15, 2025
Birmingham Mail
Rhode Island suspect is held
POLICE in the United States have said they have a person of interest in custody after a shooting that rocked a Rhode Island university campus during final exams, leaving two people dead and nine others wounded.
1 min
December 15, 2025
Birmingham Mail
Baz plays a straight bat to question of changes to top seven
ENGLAND head coach Brendon McCullum is ready to roll out an unchanged batting lineup for this week's crunch Ashes Test in Adelaide, insisting he will not be swayed by questions over his future.
2 mins
December 15, 2025
Listen
Translate
Change font size