Sunak 'Plans To Raise £40bn From Windfall Tax Hike'
The Independent|November 03, 2022
Rishi Sunak and Jeremy Hunt are preparing to raise the windfall tax on oil and gas company profits to generate an additional £40bn for Treasury over five years, according to reports.
Liam James
Sunak 'Plans To Raise £40bn From Windfall Tax Hike'

The prime minister and chancellor are scrambling to find ways to plug a potential £50bn-a-year black hole in the public purse before Mr Hunt's 17 November autumn statement.

With energy firms declaring huge profits for the last quarter BP doubled to more than £7.1bn, Shell more than doubled to £8.2bn - pressure has been mounting for an enhanced windfall tax to help fill the Treasury coffers.

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FLERE HISTORIER FRA THE INDEPENDENTSe alt
Ireland hold off Argentina fightback in narrow victory
The Independent

Ireland hold off Argentina fightback in narrow victory

Ireland survived a major scare as they kickstarted their autumn campaign by holding off a spirited Argentina side to return to winning ways with an unconvincing 22-19 victory in Dublin.

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2 mins  |
November 16, 2024
Revamped England hope to disrupt mighty Springboks
The Independent

Revamped England hope to disrupt mighty Springboks

The mixed memories of an enchanting Paris evening cut short have swirled in English heads for 13 months.

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4 mins  |
November 16, 2024
England find a new way to play... without their captain
The Independent

England find a new way to play... without their captain

Once again, Harry Kane is the first name on the England football team teamsheet.

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4 mins  |
November 16, 2024
EU allies are impatient for Brexit reset, Starmer is told
The Independent

EU allies are impatient for Brexit reset, Starmer is told

Sir Keir Starmer has been urged to step up his plans for a postBrexit reset of relations with the European Union after an unprecedented warning from the Bank of England.

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3 mins  |
November 16, 2024
Cop climate talks no longer fit for purpose, say experts
The Independent

Cop climate talks no longer fit for purpose, say experts

Former high-ranking UN officials have written an open letter calling for a complete overhaul of the Cop talks, stating that the process is \"no longer fit for purpose\" in dealing with a rapidly intensifying climate crisis.

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2 mins  |
November 16, 2024
Ukraine will have to pay the price for Putin and Trump's delusions about one another
The Independent

Ukraine will have to pay the price for Putin and Trump's delusions about one another

Tom Watling speaks to US and British former officials about the overconfidence of the president-elect and Russia's leader

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4 mins  |
November 16, 2024
Iran 'won't block Lebanon' in ceasefire talks with Israel
The Independent

Iran 'won't block Lebanon' in ceasefire talks with Israel

Iran will back any decision taken by Lebanon in talks to secure a ceasefire with Israel, a senior Iranian official has said, signalling Tehran wants to see an end to a conflict that has dealt heavy blows to its Lebanese ally, Hezbollah.

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3 mins  |
November 16, 2024
RFK Jr faces pushback to nomination from the right
The Independent

RFK Jr faces pushback to nomination from the right

Robert F Kennedy Jr is facing criticism from proand antiabortion activists, arguing he is not a conviction politician

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3 mins  |
November 16, 2024
Met Office says winter is coming with 20cm of snow
The Independent

Met Office says winter is coming with 20cm of snow

The Met Office has issued several yellow weather warnings for snow and ice for this weekend and the start of next week.

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1 min  |
November 16, 2024
Five guilty of killing teens in mistaken identity case
The Independent

Five guilty of killing teens in mistaken identity case

A man and four teenagers were found guilty yesterday of murdering two boys in a case of mistaken identity in a botched revenge attack.

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2 mins  |
November 16, 2024