Rosebank £2.8bn tax break could fix 224k 'leaky houses'

Fuel giant Equinor coins it in as Sunák loophole allows firm to claw back 91% relief on costs

- DAN VEVERS

DEVELOPERS of Rosebank oilfield are in line for a £2.8billion tax break, say campaigners enough to install a heat pump in every home in the north-east.

Oil giant Equinor can claim back about 91 per cent in relief on construction costs at Rosebank thanks to a loophole in the UK Windfall Tax, it emerged.

It comes as Rishi Sunak's Tory Government last week approved drilling off Shetland - the country's biggest untapped oilfield.

Friends of the Earth Scotland said the move was not only a "terrible decision for the planet" but also a "colossal waste of money for the UK public purse".

Equinor which raked in £62billion in pre-tax profits last year has pledged to invest around £3.1 billion on Rosebank.

But a deliberate loophole in the Windfall Tax will allow the firm to claw back £91.40 for every £100 they plough into it.

The eco charity said that amounted to £2.84billion enough for an eco-friendly heat pump and insulate each of the 224,000 homes in the Aberdeen and Aberdeenshire areas.