UK companies servicing oil and gas operators have urged the Prime Minister and the Chancellor against enforcing a windfall tax, in an open letter. Political pressure has mounted on the UK Government for a one-off additional tax to fund support for customers facing higher energy bills.
In response, 31 organisations in the UK’s offshore energy supply chain have written an open letter calling for an end to speculation about such a tax. They include manufacturing and technology companies.
Earlier, Prime Minister Boris Johnson said there would be further help to deal with the rising cost of living, but he was “not attracted” by the idea of new taxes, in response to calls for a one-off levy on oil and gas firms to support struggling households. The Treasury has refused to be drawn on a report in the Financial Times that Chancellor Rishi Sunak is considering a levy on the profits of electricity generators – including wind farms – as well as on oil and gas companies.
