All the updated news related to windfall

All the news related to windfall updated in real time

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National News

Government considering windfall tax on energy companies with 'immoral' profits

The government will consider introducing a windfall tax on energy companies who have enjoyed record profits in the upcoming Budget. It comes after there were renewed calls for an introduction of the tax on the companies’ soaring profits and for the ...

05 Aug 2022 at 21:33

Sunak sets out £15 billion emergency package to mitigate soaring cost of living

Millions of households will receive a £400 discount off their energy bills and a £5 billion tax will be levied on oil and gas giants as Rishi Sunak moved to counter the soaring cost of living. The Chancellor was forced to unveil emergency measures ...

26 May 2022 at 15:21

Cost of living measures deemed ‘life raft’ for those struggling to keep afloat

Government measures to help households cope with soaring energy prices are a “life raft” that will provide struggling families with “much-needed breathing space”, charities have said. Groups welcomed the £15 billion package, which includes £400 ...

26 May 2022 at 17:18

Kate Forbes: Long-term solutions are needed to ease cost-of-living crisis

Scotland’s Finance Secretary has “cautiously welcomed” the Chancellor’s £15 billion support package to ease the cost-of-living crisis, but warned a long-term solution is still needed. Rishi Sunak announced on Thursday that millions of ...

26 May 2022 at 17:13

Windfall tax to raise £5bn, but firms promised relief if they invest in Britain

The Government said it would raise £5 billion from the windfall tax it announced on oil and gas companies on Thursday, but it left a back door for companies to avoid much of the charge if they invest in new oil. Energy companies ...

26 May 2022 at 18:40

How Johnson, Sunak and other senior ministers previously condemned windfall tax

Labour has accused Rishi Sunak of having been dragged “kicking and screaming” into a U-turn after Conservative ministers spent months panning the idea of a windfall tax. The Chancellor conceded on Thursday that the economic ...

26 May 2022 at 15:41

Jacob Rees-Mogg warns against raiding ‘honey pot’ with oil and gas windfall tax

Jacob Rees-Mogg argued it is wrong to raid the “honey pot of business” to fund measures to ease the cost-of-living crisis by imposing a windfall tax on oil and gas giants. The Brexit opportunities minister argued that the ...

20 May 2022 at 14:28

City

Oil and gas giant Harbour Energy warns against tougher windfall tax

North Sea oil and gas giant Harbour Energy has urged the Government to “carefully consider” a tougher windfall tax on energy producers, warning it could stymie the firm’s investment plans. Linda Z Cook, chief executive ...

03 Nov 2022 at 15:48

City

Gas power plants boost SSE profits as Government eyes windfall tax on generators

Energy giant SSE has seen its profits balloon as high electricity prices saw its gas generation arm make a killing a day before the Government is expected to hit companies with an extra windfall tax. The company said ...

16 Nov 2022 at 14:14

How long will the recession last in the UK?

Chancellor Jeremy Hunt’s autumn statement has caused a spike in Google searches about the economy. The trending search terms include everything from what the OBR stands for to what the new rate is for the state ...

17 Nov 2022 at 15:51

Wind farms to pay higher windfall tax than oil rigs, Chancellor reveals

Wind farms in UK waters will pay a higher windfall tax than the oil and gas rigs operating nearby as the Government said it would levy an extra 45% charge on their profits. Chancellor Jeremy Hunt said he would ...

17 Nov 2022 at 13:19

National News

Energy crisis will last two years, warns Environment Minister

Environment Minister Eamon Ryan has warned that the energy crisis will last two years. It comes as EU countries agreed to implement a windfall tax on energy companies in a bid to tackle soaring energy prices ...

30 Sept 2022 at 15:33

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