Windfall tax would put investment in North Sea at risk, says Sir Ian Wood
Windfall tax would put investment in North Sea at risk, says Sir Ian Wood
A windfall tax on North Sea oil companies would lead to investments being shelved and leave the UK less secure in the face of energy treats from Russia, according to one of the biggest players in the industry.
Sir Ian Wood, who heads the north east’s move from carbon fuels to renewables, said Labour’s proposed £2 billion tax on oil company profits would put companies off investing.
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