The Oil and Gas taxes before 2030, urges the work band

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The UK government should replace the surprise tax on oil and gas “as soon as possible”, said a business squad, warning of the opportunity window to secure the future of the North Sea is “a quick closure”.

The North Sea Transport Squad, backed by British Chambers, said that the ministers chose to “wait a long time” with their decision to replace the “defective” energy profits in 2030.

The current actual tax rate of 78 percent on oil and gas profits was “investment suffocation” and the risk of a decrease in treasury revenues, according to a report issued on Monday.

The industry -backed business squad called for a more consistent system that would adapt to predictable ways to hydrocarbons, and thus support Long -term investment In local gas to replace more carbon -dentenules of LNG.

The UK government has opened a Consultation The financial system after 2010 for oil and gas and its inter -commitment to not issue new exploratory drilling licenses.

Surveying the business team for unions and supply chains revealed “large -scale fears” on the future of the North Sea, and called on the ministers to “behave now to restore the investor’s confidence” amid fears of tens of thousands of jobs associated with fossil fuel.

Since 2030, the oil and gas sector will return to only permanent taxes, which have been currently identified by approximately 40 percent, but will contribute more automatically if wholesale prices rise to unusual levels.

“There is no reasonable reason” to delay until 2030.

“There is no time to hang out,” said Philip Ricroft, head of the Labor Squad. “The speed is the essence of here – good companies already vote with their feet.”

The report was martyred by Apache’s decision to quit foreign operations in the United Kingdom, integrate paralysis and shortcuts in the North Sea and BP job discounts.

Anas Sarwar, the leader of the Scottish action, supported local oil and gas such as stirring growth and energy security. He said that the current fields in the North Sea can resulted in “hundreds of billions of value.”

He said: “In an explicit phrase, if the choice is more price than imports from authoritarian regimes such as Russia or the new oil and gas (from the North Sea), then the answer should be oil and gas.”

The work squad also recommended a committee led by the minister in the Department of Oil and Gas Transition to the viable renewable energy.

Recruitte said that the committee, including representatives of the treasury, the Scottish government and the unions, called for the North Sea transfer authority, which regulates external energy, to develop a strategic plan by the end of this year.

Rycroft also called on the government to ensure the industry that digging will be welcomed in approval areas.

The Ministry of Energy said it has already taken “quick steps” to provide a fair transition in the North Sea, including investments in marine wind projects and hydrogen projects and carbon storage.

Uplift, which transports campaigns against fossil fuels, said more drilling and lowering taxes on oil and gas companies will not make a fair transfer to workers.

“Allowing a new digging will lead to a serious investor confidence in the government’s commitment to moving from oil and gas,” said Robert Palmer, Deputy Director of Uplift.

“The ministers must look at this report as the oil and gas industry simply do what it always did: the lobby for less taxes.”