How would a UK windfall tax on oil and gas profits work?

about 2 years in The guardian

Analysis: Sunak hints Labour proposal ‘not off the table’ but criteria suggests very few firms would be penalisedUntil this week, the government repeatedly rejected the notion of a windfall tax on oil and gas companies, which have been reaping huge profits from sky-high energy prices.But the chancellor, Rishi Sunak, hinted at a possible U-turn on Wednesday, telling Mumsnet that such a policy was “never off the table”, and would be looked at if investment by companies in Britain’s energy security failed to materialise. Continue reading...

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