The decline in the North Sea tax base raises further questions over the £1.2bn per annum uplift in windfall tax revenues which the government has ear marked to fund GB Energy.
The UK said the number of “green jobs” associated with the push toward net zero fossil fuel emissions fell, a blow to the nation’s ambition to lead the way on the transition to protect the climate.
UK inflation rose more than expected last month to the highest in 40 years, intensifying a squeeze on consumers and adding to pressure for action from the government and Bank of England.
The UK’s leading oil and gas trade body has warned a windfall tax on the North Sea could cause “irreparable damage” to the industry.
The number of green jobs in Scotland has fallen again with businesses making less money, official figures suggest.
The UK Government is being accused of “not delivering” on pledges to create a new generation of green jobs.
Inflation is expected to have jumped higher in April as a hike in the energy price cap came into effect.
People claiming benefits in the north-east rose more than 50% in the last quarter although growth in the number of job seekers has “levelled” since the start of the oil price crash.
Inflation has jumped to a near two-year high as the rising cost of petrol, clothes, restaurants and hotels pushed up the cost of living.