Windfall tax 'will bring about job losses', energy boss says - as Rishi Sunak to address cost of living crisis
A windfall tax"will bring about job losses", the energy industry has said.
Deirdre Michie, chief executive of Offshore Energies UK, which represents the UK's integrating offshore energies industry, said their supply chain is"really worried" about the implications of a windfall tax, which is expected to be announced today."It will undermine our supply chain and it will bring about job losses."
She said"we need to wait to see what the details are" but"this isn't feeling good, to have this unexpected surprise on a sector that has been committed to working positively with the government on the security of energy supply and on the energy transition".She said history shows that a windfall tax"doesn't work" because it undermines investment.
She defended increases in profits saying"they come on the back of two years of significant losses by this sector", pointing to the impact of COVID-19.
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