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.

3 months ago·London, United Kingdom

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BBC News

Cost of living: Chancellor Rishi Sunak confirms U-turn on windfall tax

The chancellor says it is right to "fairly" tax the "extraordinary" profits of oil and gas companies.

3 months ago·United Kingdom

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The Guardian

Rishi Sunak announces £5bn windfall tax on energy firms

‘Temporary, targeted’ levy part of £15bn package intended to soften impact of cost of living crisis

3 months ago·London, United Kingdom

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The Independent

Sunak U-turns with £400 grants and windfall tax

Chancellor says levy will raise £5bn over next year, as energy price cap to increase by further £830

3 months ago·London, United Kingdom

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CNN

UK hits oil and gas companies with $6 billion windfall tax

The UK government is introducing a £5 billion ($6.3 billion) tax on the windfall profits of its oil and gas companies, bowing to pressure from campaigners to raise money to help millions of people struggling with the worst cost-of-living crisis in decades.

3 months ago·Atlanta, United States

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Independent.ie

UK imposes energy windfall tax on firms as prices soar

Britain has announced a 25pc windfall tax on oil and gas producers’ profits along with a £15bn package of support for households struggling to meet soaring energy bills.

3 months ago·Ireland

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RTÉ

UK imposes 25% energy windfall tax to help with bills

Britain has today announced a 25% windfall tax on oil and gas producers' profits, alongside a £15 billion package of support for households struggling to meet soaring energy bills.

3 months ago·Ireland

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