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No plans to prolong windfall tax to generators before Borexit

No plans to prolong windfall tax to generators before Borexit The government has not got any plans to prolong the windfall tax on electricity generators before Boris Johnson vacates the office of Prime Minister. The Prime Minister’s spokesman stated to reporters that the choice not to increase the tax is in line with government policy…
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UK’s fracking firms might be qualified for tax breaks

UK’s fracking firms might be qualified for tax breaks Fracking companies may get help from tax breaks by using a loophole in the government’s windfall tax. That’s the suggestion from a analysis uploaded by the campaign society Uplift which implies the investment allocation tied to Energy Profits Levy could prolong to fracking companies, which may…
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Rishi Sunak spent the morning with the UK’s oil and gas industry.

Rishi Sunak spent the morning with the UK’s oil and gas industry. The Chancellor has associated with oil and gas companies among concerns against the newly declared windfall tax would ‘hurt’ future investments. Rishi Sunak spent the morning at the Net Zero Technology Centre in Aberdeen, hosting a roundtable with about 20 business leaders from…
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North Sea projects scrapped?

North Sea projects scrapped? The fufillment of a windfall tax on oil and gas firms’ profits has reportedly made some reexamine their new fossil fuel projects in the North Sea. The Telegraph has announced that the Norwegian energy company Equinor is reviewing its plan to drill for oil and gas in the North Sea, in…
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Exxon is making alot of money

Exxon is making alot of money The US President has urged the American oil and gas giant ExxonMobil to drill for more oil and make new investments. Speaking on inflation during an event at the Port of Los Angeles, President Biden stated: “We will make sure that everyone knows Exxon profits – Exxon made more…
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North sea oil and gas threatened by Windfall tax

North sea oil and gas threatened by Windfall tax The implementation of the new windfall tax creates uncertainty over future investment, Shell has stated. In its recent set of cost-of-living measures, the government included a windfall tax on energy firms that could possible increment around £5 billion. Energy companies will have to pay an extra…
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Windfall tax is not the single solution to energy crisis

Windfall tax is not the single solution to energy crisis: After the announcement from the Chancellor of the Exchequer that the UK government will be bringing in a temporary, targeted energy profits levy, Dan Atzori, Research Partner at Cornwall Insight stated: “The energy market is in a state of transition, with geopolitical concerns threatening to…
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MPs Want Diesel & Petrol Pump Profits Checked

MPs Want Diesel & Petrol Pump Profits Checked: MP states: “Oil barons are the new oligarchs raking in billions of excess profits” Headlines: Unchecked oil bosses better than doubled forecourt profits in the previous 3 years sparking calls for price cuts by MPs. Retail and wholesale analyses by campaigners, FairFuelUK show companies make 126 per…
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Govt to explore windfall tax if little investment is made

Govt to explore windfall tax if little investment is made: The Prime Minister has not taken the idea off the table of bringing in a windfall tax on the profits of oil & gas companies. On LBC radio, in an interview, Boris Johnson stated: “The disadvantage with this sort of taxes is that they deter…
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Plea for a windfall tax on oil corporations getting clearer

Plea for a windfall tax on oil corporations getting clearer: BP has raked in huge underlying profits throughout the first 3 months of 2022 during skyrocketing energy prices, with profits of £4.9bn almost double the same period last year. A FairFuelUK Opinion Poll, open to all, in the last 24 hours (https://bit.ly/3LDYyz5), respondents were questioned:…
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