Energy firms call for windfall tax to be scrapped by 2025
Published by Michael Graves on Fri, 09/09/2022 - 3:50pmTrade body Offshore Energies UK (OEUK) has stated that the Energy Profits Levy, also known as the ‘windfall tax’, on UK energy firms should be scrapped by 2025 or it could risk having a ‘detrimental impact’ on investment in the sector.
OEUK said that a new round of windfall taxes would ‘leave the UK facing decades of energy insecurity’ and only serve to ‘heap further costs on consumers’.