Osborne hints at emergency fossil fuel tax breaks as oil price plunges to new lows

Jessica Shankleman
clock

Environmental groups warn planned boost to North Sea oil and gas industry would run counter to efforts to tackle climate change

Chancellor George Osborne has hinted he could offer yet more tax cuts for North Sea oil and gas companies, after the industry warned the oil price slump could sound the "death knell" for the sector...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Taxation

CBAM: EU seeks to extend carbon border levy to additional products

CBAM: EU seeks to extend carbon border levy to additional products

European Commission proposes reforms to CBAM that would see a further 180 imported steel and aluminium products impacted by the levy

Michael Holder
clock 17 December 2025 • 7 min read
Government warned ECO cuts could put 60,000 jobs at risk

Government warned ECO cuts could put 60,000 jobs at risk

Axing green levies and scrapping the ECO energy efficiency scheme could impact tens of thousands of jobs across the UK, industry body warns

Stuart Stone
clock 12 December 2025 • 5 min read
Autumn Budget 2025: At a glance guide for the green economy

Autumn Budget 2025: At a glance guide for the green economy

BusinessGreen's all-you-need-to-know guide to the green announcements in today's Autumn Budget

Michael Holder
clock 26 November 2025 • 13 min read