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Evening Standard
Evening Standard
Rebecca Speare-Cole

Government announces plans to axe oil and gas windfall tax in 2030

Oil Energy North Sea DESNZ NSTA
The Government wants to give the oil and gas sector long-term certainty on the future fiscal landscape (Andrew Milligan/PA) - (PA Wire)

The Government has announced plans to end the windfall tax on oil and gas profits in 2030 as it launches a consultation on the future of the North Sea energy sector.

Starting on Thursday, the Department for Energy Security and Net Zero (DESNZ) will talk to communities, businesses, trade unions, workers and green groups to develop a plan for a phased offshore energy transition in the region.

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