Jeremy Hunt says Scottish oil and gas industry is ‘loser’ of the budget
The Chancellor has argued the case for extending the levy, despite industry arguing that windfall conditions have gone.
Jeremy Hunt
‘Disappointing blow’: Jeremy Hunt extends North Sea windfall tax by another year
Brindex, the association of independent North Sea producers, say loss of British jobs will be "inevitable result".
‘Now is not the time’: Industry leaders slam Spring Budget plans to extend windfall tax
Industry leaders have hit out at reported plans from Chancellor Jeremy Hunt to extend the life of the windfall tax during next week’s Spring Budget.
Hunt considers extending UK windfall tax on oil and gas at Budget
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.
‘Time is running out’ to meet CCS goals as spring budget looms
Chancellor warned that "time is running out" to meet the UK's lofty carbon capture storage goals by industry.
Hunt to announce UK Budget on March 6 as Tories push for giveaways
Chancellor Jeremy Hunt will announce the next UK budget on March 6, giving the governing Conservatives what’s likely their last opportunity to announce giveaways before a general election.
Homes close to new pylons to be offered £1,000 off bills a year under Hunt plans
Households closest to new pylons and electricity substations could receive up to £10,000 off their bills over a decade under plans being announced by Jeremy Hunt.
‘No signal’ that general election will put UK CCS funding at risk
There has been “no signal” that the UK Government’s £20bn of planned funding for CCS would be at risk following a general election, said a leading trade body.
UK carbon capture projects consider move overseas over funding delays
Several carbon capture and storage (CCS) projects in the UK are considering a move out of the UK to more favourable conditions overseas, a trade body has warned.
TotalEnergies weighs up West of Shetland FIDs
TotalEnergies is weighing up its projects for FID (final investment decision) in the West of Shetland, but the uncertain fiscal regime in the UK may have an impact.
UK fund proposed to respond to US Inflation Reduction Act
The UK will fall further behind the US on green technologies without a national investment fund to help turn start-ups into the companies of tomorrow, a leading think-tank has warned.
Windfall tax to be dropped if oil and gas prices fall to ‘historically normal levels’
A welcomed move from industry, but projections show the price floor is unlikely to kick in before the tax is due to end in March 2028.
Chancellor unveils govt’s green technology scheme with swipe at Joe Biden
Chancellor Jeremy Hunt unveiled the first step of the Government's response to the US' multibillion-dollar investment in green technology with a swipe at Joe Biden.
UK labels nuclear power ‘green’ to attract climate-friendly capital
Britain will classify nuclear power as “environmentally sustainable” as the government tries to attract billions of pounds of private capital to the sector.
Chancellor confirms £20bn CCS package – but Acorn backers must continue wait
Chancellor Jeremy Hunt has confirmed a £20bn government support package for CCS, but developers of a flagship north east scheme must wait for further details.
Hunt considers limiting UK energy profits tax when prices fall
Chancellor of the Exchequer Jeremy Hunt is considering limiting the windfall tax on the profits of UK oil and gas companies to allay industry concerns.
Timeline: Acorn CCS’ long road towards mighty oak
The path has not run smooth for the north east’s Acorn CCS project, however new funding commitments in the Spring Budget may finally see the pioneering plans take root.
Hunt to announce creation of 12 new ‘investment zones’ in tomorrow’s budget
The Chancellor will announce the creation of a dozen new UK investment zones when he delivers the government’s budget tomorrow.
Chancellor vows £1bn per year support for carbon capture
Chancellor Jeremy Hunt vowed to commit £20bn to carbon capture technology over the next two decades, alongside new support for small modular nuclear reactors (SMRs).
Updated: MPs call on Chancellor to back Acorn CCS in Spring Budget
Scottish politicians urged Westminster to unlock funding for the Acorn carbon capture and storage project in the upcoming Budget and slammed slow progress on low-carbon development.
Government ‘unlikely’ to tinker with windfall tax in upcoming spring budget
It is “unlikely” that Jeremy Hunt will toy with current energy windfall taxes when he delivers the government’s fiscal update next week.
Hunt told to ‘fix or ditch’ IR35 ahead of spring budget
Westminster is being urged to “fix or ditch” current off-payroll working tax rules ahead of the upcoming spring budget.
EPL relief ‘not enough’ to offset impact on new North Sea project profitability, says economist
November’s changes to the oil and gas windfall tax have had a “significant impact” on the profitability of new projects, analysis has found.
Conservative MP calls for Sunak to reverse IR35 reforms
Conservative backbencher Sir John Redwood has called for Prime Minister Rishi Sunak to reverse the "very bad deal" IR35 is bringing to self-employed workers.
UK tax take expected to fall £12.7 billion on low gas prices
Tax revenues from the country’s oil and gas sector will fall as fossil fuel prices drop, the UK government expects, restricting Chancellor Jeremy Hunt’s spending power in the budget next month.