Written Question·Treasury·UIN 87727

Energy: Taxation

Tabled: 4 November 2025

Answered: 11 November 2025

Named Day

Question

Dame Harriett Baldwin

To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of the increase to the Energy Profits Levy announced in the Autumn Statement 2024 on (a) investment, (b) employment and (c) operations in the oil and g

Answer

Dan Tomlinson

At Autumn Budget 2024 the government confirmed that from 1 November 2024, the Energy Profits Levy (EPL) rate would increase by 3 percentage points to 38%, the EPL investment allowance would be abolished, and the EPL decarbonisation allowance rate would be...

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