| answer text |
<p>The Government is introducing the Energy Profits Levy, a new 25% surcharge on the
extraordinary profits the oil and gas sector is making.</p><p> </p><p>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.</p><p>
</p><p>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.</p>
|
 |
