UK finance minister Jeremy Hunt announced the measures on Thursday while delivering the government’s medium-term budget, which laid out plans for higher taxes and cuts to public spending. Beginning January 1, the Energy Profits Levy on oil and gas companies will increase from 25% to 35% and remain in place until the end of March 2028. That takes the total tax on the sector to 75%, according to the Treasury.
“I have no objection to windfall taxes if they are genuinely about windfall profits caused by unexpected increases in energy prices,” Hunt said in parliament on Thursday. “Any such tax should be temporary, not deter investment and recognize the cyclical nature of energy businesses,” he added. The United Kingdom will spend an additional £150 billion on energy bills this year compared to pre-pandemic levels, according to Hunt.
POTUS WhiteHouse what would that figure look like for the U.S.? How many more teachers and schools can we have with the money? How many projects could we fund? How many JOBS? People need to work not get handouts ...
Hossein was transferred to the prison, his condition is very serious, so that the doctors said that he will not survive for another 5-6 days and he should be transferred to the hospital. Please be Hossein's voice. They intend to kill Hossein. mahsaamini hosseinronaghi
A hard winter.
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNN - 🏆 4. / 95 Read more »