UK Business Secretary: Windfall Tax On Utilities Could Hamper Net-Zero Push ...Middle East

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UK Business Secretary: Windfall Tax On Utilities Could Hamper Net-Zero Push
source : OILPRICE ( Middle East ) () 19
Slapping a windfall tax on electricity generators would be a “challenging proposition” and could hamper the UK’s net-zero ambitions, according to business secretary Kwasi Kwarteng. The business secretary also came out firmly against a windfall tax on oil and gas companies, saying the policy is “not a good idea” in comments that will put him in opposition to chancellor Rishi Sunak. Sunak wants to impose a levy on excess profits made by British oil and gas firms after they experienced record returns over the past 12…

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