Sunak’s tax breaks could lead to more than £8bn of North Sea energy projects
by Alex Lawson Energy correspondent from Environment | The Guardian on (#601XW)
Analysts' forecast comes as campaigners warn windfall tax package could harm climate efforts
More than 8bn of North Sea energy projects could now be given the green light rapidly as fossil fuel firms take advantage of a tax break in Rishi Sunak's windfall tax, analysts have forecast.
Last month the chancellor introduced the one-off levy on North Sea oil and gas operators who have raked in outsized profits as energy prices have boomed with the aim of raising 5bn to help fund measures to offset rising household bills.
Continue reading...