U.K. Jacks Up Windfall Tax to 35% on Oil & Gas Companies

GALWAY, IRELAND--November 29, 2022--Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--The U.K. has increased its windfall tax on oil and gas companies in a move that will raise an estimated £14 billion (US$16.5 billion) next year and more than £55 billion (US$65 billion) from 2023 to 2028.

Within this article: Details increase in U.K. windfall tax, new tax on electricity generators, estimated revenue boost for government, impact on sectors and future investment