UK to impose 25% ‘windfall tax’ on North Sea oil and gas, double investment relief
The UK is to impose a 25% ‘windfall’ levy on earnings from North Sea oil and gas production while doubling relief on investments in the sector in an “emergency” temporary measure to support the population in the face of surging energy and living costs, finance minister Rishi Sunak said May 26. Speaking in parliament, the UK chancellor of the exchequer…