The UK Budget in its economic context
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).
Spring Budget
Douglas Ross urged to whip Scottish Tory MPs against windfall tax extension
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.
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.
Red-faced Tory leader Douglas Ross hung out to dry as windfall tax extension announced
The Scottish Tory leader 'fought as hard as he could' against the extension of the levy - but it fell on deaf ears.
Govt to make heat pump rollback as part of budget announcements
The Government will roll back on a commitment to speed up the shift to heat pumps in tomorrow's budget - the latest of a series of U-turns on climate related issues.
Scottish Conservative leader Douglas Ross calls on Chancellor not to extend windfall tax
Tory leaders reportedly feared Douglas Ross would resign in protest over rumoured windfall tax measures
Spring Budget should seize energy sector’s sustainable growth opportunity
Energy transition "quick wins" such as investment in R&D are available for next week's Spring Budget, writes the NZTC's Stephen Sheal.
‘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.
To grow the UK economy, this must be a budget for a homegrown energy transition
Looking to the Scottish Conservative conference and the looming spring budget David Whitehouse hopes government can unlock investment.
‘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.
Confirmation of nuclear as environmentally sustainable removes uncertainty – now to build confidence
In the Spring Budget, the Chancellor confirmed nuclear as “environmentally sustainable” removing an element of uncertainty which will enable the UK to plan and finance nuclear energy infrastructure in the long term. However, building confidence in technology and equipment will be key for the UK Government in delivering new nuclear power generation.
Sir Ian Wood urges govt to confirm Acorn will benefit from £20bn CCS pot
Westminster is being pressed to confirm a portion of its carbon capture and storage (CCS) cash will go to Aberdeenshire’s Acorn project.
Offshore wind giant Orsted to review UK project pipeline after ‘disappointing’ budget
Orsted has cast some doubt over its future UK offshore wind projects after yesterday’s budget failed to deliver a “full package of support”.
UK government returning to “snail-like habits” in “underwhelming” budget
Aberdeen and Grampian Chamber of Commerce's boss slammed Jeremy Hunt’s “underwhelming at best” Spring budget as the government returns to "snail-like habits".
‘We’ve waited too long’: Peterhead Port tells Chancellor to speed up as Acorn CCS delay rumbles on
A Peterhead industry boss has told the Chancellor to pick up the pace on support for the Acorn CCS project – warning the region has “waited too long for this as it is”.
Back to work budget’s omission of IR35 ‘smacks of irony’
Chancellor Jeremy Hunt’s Spring Budget focussed heavily on getting people into work, however, glossing over the issue of IR35 reforms “smacks of irony”.
Budget: Chancellor must ‘wake up’ to damage to oil and gas industry
Aberdeen business leaders have told the Chancellor to “wake up” to the damage caused by his oil and gas windfall tax policy.
Treasury expects £11bn taxes from North Sea in 2022
However receipts are expected to drop dramatically in years to come as prices drop.
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.
UK extends energy bills support for a further three months
The UK decided to keep its energy price guarantee at current levels for a further three months, easing pressure on households as the government works to ensure bills reflect falling natural gas costs.
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.
Harbour Energy eyes $40 million savings per year from Aberdeen job cuts
Harbour Energy CEO Linda Cook talks job cuts, EPL and whether the firm would move its listing out of London.
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.
Drillers warn politicians that North Sea rigs could be ‘lost for good’
“There is a real danger that the UK will be left without the resources and talent to make the energy transition a reality safely," the IADC has warned hundreds of MPs and MSPs.