8 h. ago Stealth tax raid will see a MILLION more pensioners dragged into paying income tax

A million more pensioners will be dragged into paying income tax after Rachel Reeves confirmed she would extend the freeze on thresholds for another three years.

Economics

13 h. ago Oil and gas sector warns it will be 'taxed to death' after Rachel Reeves extends windfall tax

The Chancellor announced in her speech in the House of Commons on Wednesday that the Energy Profits Levy (EPL) will remain in place until March 2030 - when it will be replaced by a new Oil and Gas Price Mechanism (OGPM).

Events

14 h. ago Government ‘taxing oil and gas sector to death’, claims trade body

The Chancellor was told Aberdeen was ‘not going down without a fight’.

Politics

22 h. ago Budget 2025 live: Rachel Reeves says tax and spending changes based on ‘fair and necessary’ choices

Chancellor to deliver fiscal statement, billed as decisive moment for fate of Starmer government, at 12.30pmTax, pensions, savings: what to expect in the budgetReeves’s high-stakes budget in five key chartsCould you do better than Reeves? Play our gameYesterday the Metropolitan police said they were not allowing a planned protest in Westminster by farmers to coincide with the budget. Farmers have been protesting regularly about the decision announced in Rachel Reeves’ budget last year to extend inheritance tax to farms.The decision was criticised by the Conservative party, who said originally the Met had indicated the protest would be allowed. Last night Victoria Atkins, the shadow environment secretary, issued a statement saying:It doesn’t smell right, particularly when we think of the regular and frequent protests that are allowed in SW1 which inconvenience motorists, residents and businesses without consideration. Is this to save the chancellor embarrassment ahead of her budget o...

Economics

47 h. ago Milkshakes and lattes expected to be hit by Government sugar tax

Chancellor Rachel Reeves announced plans to extend the sugar tax in her autumn budget last year.

Politics

3 d. ago Reeves given stark Budget warning from business to avoid ‘death by a thousand taxes’

CBI director general Rain Newton-Smith will tell the chancellor that if her priority is growth, she needs to prove it or the country faces ‘Groundhog Day’

Events

3 d. ago Failure to scrap windfall tax will 'sound death knell' for North Sea oil, Rachel Reeves told

The Chancellor has also been warned to make ‘hard choices” and avoid “death by a thousand taxes” by one of Britain’s biggest business leaders ahead of Wednesday’s announcement.

Events

4 d. ago Why even green energy firms can see UK Budget needs to help oil and gas industry

About 1,000 jobs are being lost every month in the oil and gas sector with domestic production having fallen by 40 per cent in five years and predictions it could halve by 2030

Economics

4 d. ago Budget offers Rachel Reeves a chance to change course on North Sea

The windfall tax threatens an industry whose investments, skills and infrastructures are needed to make the transition to green industries

Politics

5 d. ago Scrap windfall tax and lift ban on new oil, leading business figures urge Reeves

Martin Gilbert and Sir Ian Wood led two of the biggest firms in Aberdeen.

Economics

7 d. ago Energy sector 'crossroads' could see UK lose £13bn, new report warns

The Fraser Of Allander Institute compared two plausible paths for the UK’s oil and gas sector over the next decade

Events

7 d. ago North Sea oil and gas sector is holding its breath as it awaits answers

Chris Sawyer says the oil and gas industry’s supply chain will also support the transition to renewables – so it must be maintained

Politics

9 d. ago Sadiq Khan eyes up £200MILLION windfall as Rachel Reeves prepares to approve 'tourist tax' in Budget

Chancellor Rachel Reeves is expected to give the go-ahead for mayors in England to impose the charges, adding costs to stays at hotels and bed and breakfasts.

Economics

1 week ago Reeves urged to cut windfall tax and not ‘sacrifice’ oil and gas workers

The Chancellor is due to deliver her budget later this month.

Economics

1 week ago It would be financial suicide to levy a £30 billion windfall tax on banks

Our banks would have to consider severely curtail lending if the Lib Dem suggestion is ever implemented

Economics

2 w. ago North Sea oil firm Harbour Energy axes 250 more jobs as pressure mounts on Labour to scrap windfall tax

The company said the latest cull means it has cut around 600 jobs since the so-called 'energy profits levy' was introduced in 2022 - underlining its damage to the economy.

Economics

3 w. ago Reeves warned that economy faces 'death by a thousand taxes' as Britain's boardrooms and households shudder ahead of Budget

Rachel Reeves has been warned that the economy faces 'death by a thousand taxes' as the City and middle Britain shudder over the prospect of Budget pain.

Events

3 w. ago Oil and gas windfall tax must be replaced, say offshore and renewables groups

Offshore Energies UK and Scottish Renewables have written a joint letter to Chancellor Rachel Reeves and Energy Secretary Ed Miliband.

Politics

3 w. ago Humiliation for Ed Miliband as Rachel Reeves 'is set to scrap oil and gas windfall tax' to revive North Sea investment

The Chancellor is said to be mulling the move as she and Prime Minister Sir Keir Starmer scramble to boost Britain's sluggish economy.

Economics

4 w. ago Reeves looks at early scrapping of windfall tax on UK oil and gas sector

Chancellor seeks assurances from industry that the move would boost investment in the North Sea

Politics