The prime minister Liz Truss has come under renewed pressure to extend the government’s windfall tax on oil and gas giants, after the European Commission set out plans for a tougher levy as part of its plan to shield citizens from surging energy prices.
A draft of the EU plans would see oil, gas, coal and refining firms required to make a “solidarity contribution” of 33 per cent of their taxable surplus profits from the fiscal year 2022, compared to the 25 per cent levy imposed on UK-based firms by former chancellor Rishi Sunak earlier this year.
