By Paul Homewood
Britain’s biggest oil and gas producer is planning to cut jobs as it scales back investment in response to the North Sea windfall tax.
Harbour Energy told staff in Aberdeen yesterday that they could be at risk of redundancy. It is cutting plans for exploration in light of the energy profits levy imposed in May after oil and gas prices soared in the wake of Russia’s invasion of Ukraine.
The levy increased the effective tax rate in the North Sea from 40 per cent to 65 per cent initially and was increased again to 75 per cent from the start of this year as the government sought to bring in extra income to fund help for consumers.
Harbour Energy, which employs about 1,500 people in Britain, has been one of the biggest critics of the levy and has said that shareholders are pushing for it to invest…
View original post 136 more words
Utopia, you are standing in it! 
Recent Comments