Conservatives vow to end oil and gas windfall tax

The Conservative Environment Network (CEN) – which represents shadow cabinet members such as Victoria Atkins, Saqib Bhatti, Andrew Griffith and Kevin Hollinrake – has given its blessing to Badenoch’s announcement. 

CEN director Sam Hall said: “Kemi Badenoch is right to call for the windfall tax to be scrapped. It has damaged energy investment in the UK, when we need more investment for the clean energy transition. Taxing energy companies to fund Ed Miliband’s ideological quango, GB Energy, encapsulates this government’s damaging and statist approach to energy.

“As the North Sea is a mature basin, ending the windfall tax and the ban on new licenses will only slow the rate of decline in oil and gas production. 

“To safeguard our energy security, protect jobs and skills in the UK, and grow the economy, there should also be new incentives to encourage oil and gas firms to diversify into clean technologies and retrain their workers.”

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