PARLIAMENTARY WRITTEN QUESTION
Offshore Industry: Taxation (30 August 2024)

To ask the Chancellor of the Exchequer, if she will meet with energy (a) companies and (b) workers in Aberdeen who will be affected by an (i) increase and (ii) extension of the windfall tax on oil and gas.

Asked by:
Stephen Flynn (Scottish National Party)

The government is committed to maintaining an open and constructive dialogue with stakeholders to finalise the changes that were announced in the Chancellor’s Statement on July 29 in relation to the Energy Profits Levy, ensuring a phased and responsible transition for the North Sea. Money raised from these changes will support accelerating the transition to clean energy, increasing security and independence while providing sustainable jobs for the future and helping to protect electricity bills against future price shocks.

The Exchequer Secretary met with senior representatives from the oil and gas sector whilst chairing an Oil and Gas Fiscal Forum meeting in Aberdeen on August 12, and he met directly with workers in the sector. In addition, Treasury Ministers and officials continue to engage with the sector and various interested parties ahead of announcing further details of the final policy design at Budget.

Answered by:
James Murray (Labour)
9 September 2024