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Change windfall tax to net £137bn, Reeves told
Western Daily Press
|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.
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.
Dit verhaal komt uit de September 01, 2025-editie van Western Daily Press.
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