There has been significant attention paid over the past few months to oil and gas taxation in the UK, following Labour’s announcement regarding its intentions for oil and gas taxation, should it form the next UK government.
The UK Spring Budget took place in the House of Commons on March 6, despite most fiscal budget changes already appearing in the media well in advance.
The UK Budget should be assessed in relation to its macroeconomic (aggregate) effects and in relation to its impact on individual elements (i.e. microeconomic effects).
Douglas Ross has been warned he will be Scottish Tory leader in “name only” if he does not whip his MPs to vote against a windfall tax extension.
Hartshead Resources warns of the risk of a "flight of capital to other jurisdictions" due to Labour Party comments on the windfall tax.
The Scottish Tory leader 'fought as hard as he could' against the extension of the levy - but it fell on deaf ears.
Brindex, the association of independent North Sea producers, say loss of British jobs will be "inevitable result".
Tory leaders reportedly feared Douglas Ross would resign in protest over rumoured windfall tax measures
Earlier this month, Labour announced its revised green investment plan. While the wider media focus has been on the reduction of the previous £28bn annual target, the announcement also contained potentially significant proposals regarding the taxation of UK upstream oil and gas.
Waldorf Production has outlined its goals for the coming financial year, including its UK M&A ambitions.
Reports suggest Chancellor Jeremy Hunt is planning to extend the windfall tax on North Sea oil and gas firms.
It was all a bit odd at the Scottish Labour conference last month. A few days earlier, the oil and gas industry was shrieking outrage at Labour for proposing a windfall tax on gargantuan profits.
“Each time we think we have certainty, someone moves the goalposts and that's not helpful.”
The prime minister was asked to rule out concerns the Chancellor is teeing up a longer tax levy – despite Tories slamming Labour for suggesting a higher rate.
Chancellor of the Exchequer Jeremy Hunt is weighing proposals to extend the UK’s windfall tax on the profits of oil and gas companies as one of several revenue-raising options under consideration to help finance personal tax cuts at his budget next week.
The UK Chancellor is facing calls to remove the controversial tax on oil and gas giants ahead of his spring budget next week.
New analysis by Wood Mackenzie has forecast the financial impact of Labour's windfall tax proposals, warning that key CCS and wind projects could grind to a halt.
The former CNOOC boss said "there will be a lot of change between now and the general election" following Labour's windfall tax policy.
Humza Yousaf said he'd maintain the status quo on the windfall tax in Aberdeen following Labour's controversial plans.
Scotland's First Minister has branded Labour a "wolf" in a red rosette as he rejected the party's plans to increase the windfall tax.
Trade body Offshore Energies UK (OEUK) will hold “emergency summits” with operators and the supply chain this week over proposals unveiled by Labour to extend the windfall tax if elected.
More than 700 concerned voices, including Aberdeen business tycoon Sir Ian Wood, have signed the letter demanding a U-turn.
“There are more and more comparisons to be drawn” between the large-scale miner's strikes of the 1980s and the effects of Labour’s windfall tax hike, unions say.
Oil and gas bosses from across the North Sea have decried Labour as "clueless" following its proposed windfall tax hike.
Energy representatives have asked for a ‘holistic’ approach to energy policy and tax incentives in the upcoming Budget, which would help guide the UK to net-zero.