Rishi Sunak first announced the Energy Profits Levy – set at 65% - back in May 2022 after Russia’s invasion of Ukraine led to a surge in wholesale and retail energy prices.Rachel Reeves has described as “loopholes”
“Our journey to net zero and beyond depends on responsibly making the most of our oil and gas production, which is at record lows. The comments came as Keir Starmer was in Holyhead in Wales to announce a new plan for state-backed offshore windfarms as part of GB Energy.“Some country in the world is going to be the leader, and I want that to be the UK. What we can do is have theHe said it was part of his party’s plan to “take back control of our national energy security".should be ramped up there needed to be a recognition that the UK “will also rely on oil and gas for decades to come".
“Unfortunately a policy to bleed the North Sea dry will simply displace valuable jobs and new opportunities to other markets across the globe.”We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.