5 h. ago The truth about oil and gas industry's windfall tax complaints – and why Labour still needs to help it

Labour has conceded some ground but needs to send a much clearer signal that the North Sea is open for business

Society

40 h. ago Keeping windfall tax was 'right choice', insists Anas Sarwar amid industry backlash

The Scottish Labour leader said the move allowed the UK Government to cut energy bills and reduce child poverty

Events

49 h. ago Keeping windfall tax is right thing to do, says Reeves amid concerns over jobs

The Chancellor responded to criticism from the sector and the Scottish Government following her decision to maintain the energy profits levy.

Politics

65 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

5 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

6 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

7 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

9 d. ago Thousands of toxic sites across US face risk of coastal flooding

Study finds rising seas could flood facilities handling waste, sewage, and oil and gas – and coastal states most at riskMore than 5,500 toxic sites nationwide could face coastal flooding by 2100 due to rising sea levels, according to new research.The study, published on Thursday in Nature Communications and led by scientists at the University of California, warns that if heat-trapping pollution continues unabated, rising seas will flood a wide range of hazardous facilities including those handling sewage, toxic waste, oil and gas, as well as other industrial pollutants. Continue reading...

Events

1 week ago Ministers must consider boldest of steps to save Fife Ethylene Plant at Mossmorran from closure

Oil and gas-related industries are contracting at a rate which far surpasses the creation of jobs in renewable energy and associated low-carbon technologies

Politics

1 week 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

2 w. 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

2 w. 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 'Since when is a clown racist?': Robert Jenrick blasts back after Labour MP lodges formal complaint about AI video of Cabinet minister David Lammy in circus costume

The senior Tory said it was 'ridiculous' that he is facing a possible standards probe over his sharing of an AI-generated video of Justice Secretary David Lammy .

Politics

3 w. ago Why Scotland should learn from Spain to save fossil fuel workers from unemployment

The Scottish and UK governments need a better plan to deal with mass job losses in the North Sea oil and gas industries

Politics

3 w. ago How thousands of fossil fuel lobbyists got access to UN climate talks – and then kept drilling

Exclusive: Research shows oil, gas and coal firms’ unprecedented access to Cop26-29, blocking urgent climate actionMore than 5,000 fossil fuel lobbyists were given access to the UN climate summits over the past four years, a period marked by a rise in catastrophic extreme weather, inadequate climate action and record oil and gas expansion, new research reveals.Lobbyists representing the interests of the oil, gas and coal industries – which are mostly responsible for climate breakdown – have been allowed to participate in the annual climate negotiations where states are meant to come in good faith and commit to ambitious policies to reduce greenhouse gas emissions. Continue reading...

Politics

3 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 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

last month 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