Reports: Sunak orders plan for windfall tax on power companies and oil and gas producers

Cecilia Keating
clock • 4 min read
Chancellor Rishi Sunak visits a petrol station after annoucing a freeze in fuel duty | Credit: Treasury, Flickr
Image:

Chancellor Rishi Sunak visits a petrol station after annoucing a freeze in fuel duty | Credit: Treasury, Flickr

Propposed levy set to extend beyond oil and gas firms and include a tax on the earnings of electricity generators benefitting from soaring prices, according to government insiders

The Chancellor has ordered Treasury officials to draw up proposals for a windfall tax on the excess profits of oil and gas companies, according to a report that suggests the government is gearing up for...

To continue reading this article...

Join BusinessGreen

  • Enjoy exclusive news, insights and analysis from Europe’s leading source of information on the green economy and business.
  • Make smart, responsible business decisions with an eye on the latest regulatory and tech development
  • Tap into our extensive archive of exclusive articles, news, analysis and guide
  • Access to our new BusinessGreen intelligence service, providing you with
  • > Exclusive in-depth case studies
  • > Policy briefings, white papers and reports on market trends that are shaping the direction of the net zero transition
  • Our overnight briefing, expertly curated help you run a competitive and sustainable business
  • Online and interactive meetings with BusinessGreen’s editors to discuss the crucial stories and trends from the past month

Choose the membership package that's right for you and your organisation, via our 3 membership levels.

Join now

 

Already a BusinessGreen member?

Login

More on Policy

'Legally-binding': Top businesses call on governments to deliver 'ambitious and effective' Global Plastics Treaty

'Legally-binding': Top businesses call on governments to deliver 'ambitious and effective' Global Plastics Treaty

Group of leading businesses meet with UK government ahead of upcoming final round of negotiations aimed at agreeing a landmark final plastic pollution treaty before the end of this year

James Murray
clock 07 November 2024 • 3 min read
Cities can steer the clean energy transition - but they need the power to act

Cities can steer the clean energy transition - but they need the power to act

Local authorities' ability to deliver climate goal is being hampered by short-term funding pots and the lack of a local area energy planning framework, writes Southampton City Council's Lorna Fielker

Lorna Fielker, Southampton City Council
clock 05 November 2024 • 4 min read
Global Briefing: EU greenhouse gas emissions down eight per cent in 2023

Global Briefing: EU greenhouse gas emissions down eight per cent in 2023

Scientists say climate change made Spanish floods worse, philanthropists pledge $51.7m for protection of the high seas, and Microsoft builds a wooden data centre

BusinessGreen staff
clock 01 November 2024 • 8 min read