Fears over energy tax rises as business confidence falls

Quick Summary:

Investment will be cut and thousands of jobs put at risk if the windfall tax is raised, an industry body says.

However, last week, Prime Minister Sir Keir Starmer warned the autumn Budget in October, where the government will outline its taxation and spending plans, would be "painful".

A Treasury spokesperson said the government was committed to a "constructive dialogue" with the oil and gas industry over changes to the windfall tax.

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Article Details

Category: Business

Markets: United Kingdom

Topics: Economic Energy Government Business Firms Investment Windfall Profits Confidence Policy

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-02 @ 10:34:40 (2 days ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 931 words

Reading Time: 6 minutes read

Sentences: 30 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BBC Business

News ID: 22368201

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About BBC Business

Main Topics: Business

Official Website: bbc.co.uk

Update Frequency: 1 posts per day

Year Established: 1922

Headquarters: United Kingdom

News Last Updated: 22 hours ago

Coverage Areas: United Kingdom

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Publication Timezone: GMT +0:00

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News Language: English

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Publisher ID: #43

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