A windfall tax could be one of the measures revealed by the chancellor on Thursday as the energy price hike is set to rise even further. But oil and gas companies have said that could reduce production in the future.
Should there be a windfall tax on oil?
Mr Sunak told the Commons last week that the government does"not believe that windfall taxes are the simple and easy answer to every problem". "I have made it clear and said repeatedly that, if that does not happen soon and at significant scale, no option is off the table."Why expensive energy impacts everything
Deirdre Michie, its chief executive, said:"This is an industry that thinks and plans long-term, so sudden new costs, like this proposed tax, will disrupt planning and investment and, above all, undermine investor confidence."
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