3/24, 11:40 PM (Source: TeleTrader)
more TeleTrader news

UK reportedly to ease windfall tax for energy firms

The British government is planning to provide windfall tax exceptions for fossil fuel companies, the Financial Times reported on Friday. Unnamed officials said the government could offer to waive the 35% tax if energy prices dropped under a certain long-term level.

According to sources, Chancellor Jeremy Hunt is in favor of the plan "because it would provide tax certainty to a sector that is being encouraged to invest in new energy projects." The proposal could be unveiled by Prime Minister Rishi Sunak next week, the report said.

Baha Breaking News (BBN) / DJ