Reports: Sunak orders plan for windfall tax on power companies and oil and gas producers

Cecilia Keating
clock • 4 min read
Chancellor Rishi Sunak visits a petrol station after annoucing a freeze in fuel duty | Credit: Treasury, Flickr
Image:

Chancellor Rishi Sunak visits a petrol station after annoucing a freeze in fuel duty | Credit: Treasury, Flickr

Propposed levy set to extend beyond oil and gas firms and include a tax on the earnings of electricity generators benefitting from soaring prices, according to government insiders

The Chancellor has ordered Treasury officials to draw up proposals for a windfall tax on the excess profits of oil and gas companies, according to a report that suggests the government is gearing up for...

To continue reading this article...

Join BusinessGreen

  • Enjoy exclusive news, insights and analysis from Europe’s leading source of information on the green economy and business.
  • Make smart, responsible business decisions with an eye on the latest regulatory and tech developments
  • Stay in the know with our overnight briefing, expertly curated help you run a competitive and sustainable business
  • Tap into our extensive archive of exclusive articles, news, analysis and guides
  • Access our Intelligence Reports and exclusive data-rich studies on business-critical aspects of the green economy (BG Advanced members only)
  • Choose from 3 paid membership levels or start a 7-day no strings trial

Join nowTry 7 day trial

 

Already a BusinessGreen member?

Login

More on Policy

Tony Juniper | Credit: Defra

Natural England chair urges government to stay the course on green farming subsidy plans

Tony Juniper to deliver speech today urging farmers and policymakers to reject 'false choise’ between nature protection and food production

Michael Holder
clock 28 November 2022 • 5 min read
Defra urged to publish environmental targets ahead of COP15 Biodiversity Summit

Defra urged to publish environmental targets ahead of COP15 Biodiversity Summit

In an open letter from the Environmental Audit Committee, Defra has been urged to publish its delayed environmental targets ahead of next month's COP15 Summit

clock 22 November 2022 • 4 min read
Credit: CBI

Rishi Sunak calls for 'bold, persistent' innovation to turn tide on UK economic woes

But Prime Minister neglects to mention net zero, renewables, or clean technology in keynote speech to CBI annual conference

Michael Holder
clock 21 November 2022 • 5 min read