Written Question·Treasury·UIN 62223
Offshore Industry: Taxation
Tabled: 24 June 2025
Answered: 2 July 2025
Question
Wera Hobhouse
Liberal Democrat — Bath
To ask the Chancellor of the Exchequer, whether she plans to increase taxes on oil and gas companies to help fund investment in (a) clean energy, (b) home insulation and (c) other climate measures.
Answer
James MurrayThe oil and gas industry is currently subject to a headline tax rate of 78%, which includes the 38% Energy Profits Levy, following reforms announced by the government at Autumn Budget 2024. At the Autumn Budget 2024, the Government announced it would incr...
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