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Rishi Sunak announces £5bn windfall tax on energy firms

Summary by Ground News
Rishi Sunak has finally unveiled a multi-billion pound windfall tax on oil and gas industry profits to help deal with the cost of living crisis. The measures will raise around £5 billion in revenue over the next year, the Chancellor said. It comes into effect today, and will be legislated for via a standalone Bill to be introduced shortly.

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Manchester Evening News broke the news in Manchester, United Kingdom on Thursday, May 26, 2022.
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