OEUK Claims Labour Windfall Tax Plan Would ‘Wipe Out' North Sea Investment

10th February 2024

Oil and gas sector leaders have warned that thousands of jobs and billions of pounds of investment would be "wiped out" under Labour plans to increase the windfall tax.

Trade body Offshore Energies UK (OEUK) has claimed up to 42,000 jobs and £26 billion of economic value would be lost after Labour unveiled manifesto plans to increase tax rates and cut investment allowances if it takes power.

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