Member

Analysis from OEUK shows that the UK oil and gas sectors’ total tax yield under Labour’s increase to the EPL will peak in 2026 before declining, compared with the previous scenario, which would continue to increase Treasury receipts over the period. The analysis shows that while the expected tax take from Scotland’s oil and gas producers would increase in the very short term, ultimately, over the remainder of the period, it will result in a £12 billion loss in receipts to the Treasury compared with the current regime. It is heads the sector wins and tails the Government lose.