Scrapping windfall tax early could cost UK £8.6bn by 2030, say campaigners

The Westminster Government has already outlined plans to replace the charge with a new scheme (Jane Barlow/PA) -

Replacing the UK’s current windfall tax on oil and gas firms could cost the country up to £8.6 billion by 2030, campaigners have claimed.

The Westminster Government has already outlined plans to replace the charge – known officially as the energy profits levy – with a new scheme called the oil and gas revenue levy.