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answer › date of answer	2022-06-06
uin	HL449

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registered interest

date

exactly:

or between:
and

answering body

answering dept id

answering dept short name

answering dept sort name

hansard heading

house id

legislature


pref label

question text

tabling member printed

uin

answer

is ministerial correction

date of answer

exactly:

or between:
and

answer text

answering member printed

question first answered

answering member


label

tabling member


label

1464823

registered interest

date

23/05/2022

answering body

Treasury

answering dept id

answering dept short name

Treasury

answering dept sort name

Treasury

hansard heading

Energy: Taxation

house id

legislature

25277

	pref label	House of Lords

question text

To ask Her Majesty's Government what steps they will take to levy a windfall tax on oil and gas firms throughout the UK to address rising levels of fuel poverty.

tabling member printed

Baroness Ritchie of Downpatrick

uin

HL449

answer

is ministerial correction

date of answer

06/06/2022

answer text

The Government is introducing the Energy Profits Levy, a new 25% surcharge on the extraordinary profits the oil and gas sector is making. The new Energy Profits Levy will raise around £5 billion over the next year which will go towards supporting people through the new cost of living measures announced by the Chancellor. As part of the levy, a new tax relief is being introduced to encourage firms to invest in the UK. The new 80% Investment Allowance means businesses will overall get a 91p tax saving for every £1 they invest.

answering member printed

Baroness Penn

question first answered

06/06/2022 09:06:23

answering member

4726

	label	Biography information for Baroness Penn

tabling member

4130

	label	Biography information for Baroness Ritchie of Downpatrick