Rachel Reeves Promised Oil Industry ‘Quid Pro Quo’ Over Windfall Tax in Private Meeting

Rachel Reeves Promised Oil Industry ‘Quid Pro Quo’ Over Windfall Tax in Private Meeting

Chancellor Rachel Reeves told a fossil fuel giant that the industry would receive a “quid pro quo” in return for higher taxes on its windfall profits, DeSmog can reveal. In a meeting with the Norwegian state energy company Equinor on 27 August last year, Reeves suggested that the government’s carbon capture, utilisation and storage (CCUS) subsidies were a payoff for oil firms being hit with a higher tax rate. Minutes of the meeting obtained by D…

Peter Rhodes on juries, on tumbleweed and on holiday

The sky seems to have forgotten how to rain but the fates still have a sense of humour. As drought stalks our brown and parched land, Chancellor Rachel Reeves chooses this tumbleweed moment to unveil an £8 million programme to protect us from floods.