Labour’s Oil and Gas Tax Plans Set To Cripple Sector and Lose Revenue

Labour’s plans for the oil and gas sector have gone largely unscrutinised – thanks to the sector being a piñata for quick revenue-hungry chancellors. There aren’t many sweets left in it as the sector reaches absolute breaking point…

Under climate zealot Ed Miliband, Labour is proposing an increase to the already eye-watering windfall tax to 78% (from 75%) until 2029, as well as blocking any new licences.[…] Read the rest