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tabling member printed	Wera Hobhouse
min answer › date of answer	2019-05-21
answer › answer text	The Energy Profits Levy (EPL) is expected to raise around %C2%A35 billion in its first 12 months. The final costing will be subject to scrutiny by the Office for Budget Responsibility and will be set out at the next fiscal event.%3Cp%3E %3C/p%3E%3Cp%3EIn future years, if oil and gas prices return to historically more normal levels, the Government will phase out the Energy Profits Levy. The legislation also includes a sunset clause, effective at the end of December 2025.%3C/p%3E%3Cp%3E %3C/p%3E%3Cp%3ENo assessment of additional revenue the Levy would raise each year in the event that it were extended until 2030 has been made.%3C/p%3E%3Cp%3E %3C/p%3E
min answer › question first answered	2019-02-11T14:21:32.617Z

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registered interest

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answering body

answering dept id

answering dept short name

answering dept sort name

hansard heading

house id

legislature


pref label

question text

tabling member constituency

tabling member printed

uin

answer

is ministerial correction

date of answer

exactly:

or between:
and

answer text

answering member constituency

answering member printed

question first answered

answering member


label

tabling member


label

1489214

registered interest

date

14/07/2022

answering body

Treasury

answering dept id

answering dept short name

Treasury

answering dept sort name

Treasury

hansard heading

Energy: Taxation

house id

legislature

25259

	pref label	House of Commons

question text

To ask the Chancellor of the Exchequer, if he will make an estimate of the additional revenue the energy profits levy would raise each year in the event that it were extended until 2030.

tabling member constituency

Bath

tabling member printed

Wera Hobhouse

uin

36845

answer

is ministerial correction

date of answer

22/07/2022

answer text

The Energy Profits Levy (EPL) is expected to raise around £5 billion in its first 12 months. The final costing will be subject to scrutiny by the Office for Budget Responsibility and will be set out at the next fiscal event. In future years, if oil and gas prices return to historically more normal levels, the Government will phase out the Energy Profits Levy. The legislation also includes a sunset clause, effective at the end of December 2025. No assessment of additional revenue the Levy would raise each year in the event that it were extended until 2030 has been made.

answering member constituency

South East Cambridgeshire

answering member printed

Lucy Frazer

question first answered

22/07/2022 10:30:29

answering member

4517

	label	Biography information for Lucy Frazer

tabling member

4602

	label	Biography information for Wera Hobhouse