• About
    • Ethics policy
    • Privacy Policy
    • Ownership, funding and corrections
    • Complaints procedure
    • Terms & Conditions
  • Contact
  • Support
  • Newsletter
Brighton and Hove News
29 September, 2023
  • News
    • Politics
    • Business
    • Opinion
    • Community
  • Arts and Culture
    • Music
    • Theatre
    • Food and Drink
  • Sport
    • Brighton and Hove Albion
    • Cricket
  • Newsletter
  • Public notices
  • Advertise
No Result
View All Result
  • News
    • Politics
    • Business
    • Opinion
    • Community
  • Arts and Culture
    • Music
    • Theatre
    • Food and Drink
  • Sport
    • Brighton and Hove Albion
    • Cricket
  • Newsletter
  • Public notices
  • Advertise
No Result
View All Result
Brighton and Hove News
No Result
View All Result
Home Brighton

Brighton MP slates tax breaks for oil and gas companies

by Frank le Duc
Wednesday 30 Nov, 2022 at 8:12PM
A A
1
After the debacle in Kabul, we need to fix our failed refugee system and refocus our foreign policy

Caroline Lucas speaks during the House of Commons debate on Afghanistan

Brighton Pavilion MP Caroline Lucas has criticised the government for giving tax breaks to oil and gas companies when their profits are going up on the back of the cost of living.

The Green MP spoke out during a House of Commons debate on tax measures in the Chancellor’s autumn statement.

Treasury Minister Victoria Atkins told the Commons that the government’s oil and gas windfall tax allowances would help to create a “methodical” path to net zero.

Ms Atkins, opening a debate on the Finance Bill, said that the “energy (oil and gas) profits levy” would be raised from 25 per cent to 35 per cent until March 2028.

She said: “This is because commodity prices, particularly gas, are now expected to remain above their long-term average for the foreseeable future.

“However, the government wants to see the oil and gas sector reinvest its profits to support the economy, jobs and the UK’s energy security.

“(This) is why the levy has an investment allowance that means businesses overall get a 91p tax saving for every pound they invest, providing them with an additional immediate incentive to invest.”

Ms Lucas asked: “Can she explain why she thinks it is reasonable to be giving incentives, taxpayers’ money, to companies that are already raking in huge profits at a time when there is a cost of living crisis which is driving so many families into real hardship right now?”

Ms Atkins replied: “In relation to energy security, we do have to be realistic about where we are.

“We cannot, much as some campaigners would like, we can’t stop using oil tomorrow, we have got to find reasonable and methodical ways of decarbonising.”

The minister later urged MPs to back changes to income tax thresholds, telling the Commons: “As set out in the autumn statement, the path to fiscal sustainability requires us to ask everyone to contribute a little more towards our public finances.

“But we are doing this in a fair way. Those with more are being asked to contribute more.”

The Brighton Pavilion MP also tweeted about the government’s approach to onshore wind farms today (Wednesday 30 November).

This Tory Govt has had an absurd mental block over onshore wind for a decade. It’s cheap, hugely popular, can strengthen our energy security & help tackle #climateemergency. Pitting onshore against offshore is nonsensical & dangerous – we need both.https://t.co/Yl8bYJcGpA

— Caroline Lucas (@CarolineLucas) November 30, 2022

 

ShareTweetShareSendSendShare

Comments 1

  1. Eddie Barham says:
    10 months ago

    Scottish power still owe me £18,000, from one year ago. Rob me because I am deaf. I Now living in a hostel, calling its my cave because I can’t move around. Stop the rich oil and gas ⛽ profits, and killing us all. Windmills powered by wind is blowing the best way back. They used them since the Roman time, or have you all forgotten our history.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most read

Brazen bike thief steals £3.5k ebike as witnesses take pictures

Electric charging spots to be removed because they would block hearses

£1k a month garden cabin rental provokes outrage

Council books further £2.5m loss on Brighton i360 debt

Council faces £70m budget gap

Top music awards go to Bjork, Wet Leg and … a Brighton record shop

Brighton MP slates tax breaks for oil and gas companies

Football match-day guest parking permits look likely to be scrapped

Prankster artists swap snaps of Brighton tourist traps for housing estates

Is this your giant husky?

Arts and Culture

  • All
  • Music
  • Theatre
  • Food and Drink
Helen McCookerybook & James McCallum to bring The Chefs to Woodingdean

Helen McCookerybook & James McCallum to bring The Chefs to Woodingdean

28 September 2023
It’s certainly not the ‘End Of World’ for PiL

It’s certainly not the ‘End Of World’ for PiL

28 September 2023
‘Run Like Hell’ it’s Peter And The Test Tube Babies

‘Run Like Hell’ it’s Peter And The Test Tube Babies

27 September 2023
Green Door Store’s ‘2 3 4 Fest’ a resounding success! (Part Two)

Green Door Store’s ‘2 3 4 Fest’ a resounding success! (Part Two)

27 September 2023
Load More

Sport

  • All
  • Brighton and Hove Albion
  • Cricket

Sussex scent victory after a dominant day at Hove

by Will Symons
28 September 2023
0

Sussex - 202 and 505-7 (declared) Gloucestershire - 195 and 113-5 Sussex have victory in their sights after a commanding...

Manager of Brighton and Hove Albion’s women team dismissed after allegations

Albion ease out of Carabao Cup with Europa and Premier League taking precedence

by Tim Hodges
27 September 2023
0

Brighton and Hove Albion are out of the Carabao League cup after a goal from Nicholas Jackson settled the tie....

Carabao Cup Round 3 – Chelsea v Brighton and Hove Albion

Carabao Cup Round 3 – Chelsea v Brighton and Hove Albion

by Tim Hodges
27 September 2023
0

Brighton and Hove Albion go to Stamford Bridge for their first League Cup game of the season. Chelsea entered the...

Sussex come up short against Middlesex in County Championship

Sussex bat their way into a strong position on day two

by Will Symons
27 September 2023
0

Sussex 202 and 256-3 Gloucestershire 195 Classy fifties from Tom Clark, Ali Orr and James Coles put Sussex in a...

Load More
November 2022
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
282930  
« Oct   Dec »
ADVERTISEMENT
  • About
  • Contact
  • Support
  • Newsletter
  • Privacy
  • Complaints
  • Ownership, funding and corrections
  • Ethics
  • T&C

© 2023 Brighton and Hove News

No Result
View All Result
  • News
    • Opinion
  • Arts and Culture
    • Music
    • Theatre
  • Sport
    • Cricket
  • Public notices
  • Advertise
  • About
  • Contact

© 2023 Brighton and Hove News

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish.Accept Read More
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.