General · 4 March 2026
Rachel Reeves commits to ending North Sea windfall tax
Rachel Reeves has reaffirmed her commitment to end the North Sea energy profits levy. Scottish First Minister John Swinney called for the tax's immediate removal, stating it is "utterly essential" due to its impact on investment and jobs. Reeves discussed the tax with energy bosses, including BP, amid warnings that conflict in the Middle East creates an "uncertain context" for policy decisions. The Tory government first introduced the charge following the Ukraine war.
Reported by Independent · How we write briefs