> While announcing his levy, which the chancellor said would ‘tax extraordinary profits fairly and incentivise investments’, Sunak also included in his proposals a new ‘super-deduction’ style relief to encourage firms to invest in oil and gas extraction in the UK.
> It added: “The new 80% Investment Allowance will mean businesses will overall get a 91p tax saving for every £1 they invest – providing them with an additional, immediate incentive to invest. This nearly doubles the tax relief available and means the more investment a firm makes, the less tax they will pay.”
> Wouldn’t it make sense at a time of climate emergency to stop subsidising fossil fuels and invest in insulation and renewables?
It would, but this government isn’t about “making sense”.
It’s almost like the net-zero-by-2050 target is some distant pipe-dream that the govt. aren’t even bothering to work towards.
The windfall tax is actually a subsidy for oil and gas. This government are climate wreckers and a danger to your children.
It’s almost like we’re about to have an energy crisis
I thought we were going to use the levy to invest in more secure sources of energy? Gosh the Tories weren’t *lying* were they? Crazy.
If they *can* extract more fossil fuels then why are they not extracting more fossil fuels without being incentivised?
My question detracts a little from the real question of why we’re continuing to pursue an unstable source of fuel in the first place but I think it needs answering.
The choice for the next few years is import or produce. That’s it.
Who’s to bet they don’t lower prices if they drill more?
You remember playing FF7 for the first time? You plant a bomb in a reactor as you’re part of an eco terrorist group fighting against a corrupt regime which is killing the planet for profit?
Remember thinking you were glad that your government would never be like that of Shinra.
This won’t be popular but is necessary to stop our dependence on Russia, hopefully this is a very temporary thing.
Just about the only thing I can agree with him on lately (if only a little) the guys a colossal cunt.
Your government won’t build you houses.
They won’t safeguard your future from the climate emergency.
They will deliberately place you and your family in a state of precarity so you are forced to do the shit jobs rich families don’t want to do.
Go on twunt face. Kill the planet
Doe he have links to fossil fuel companies?
That’s the usual way with this lot
The environment is yet another thing the Tories really don’t care about.
Oil companies are making billions and the UK government is hell bent on giving them even more goddamn money!!!!! WTF!
Sure as hell see who counts in the country and who does not, filthy little wanker.
Government wants to satisfy it’s people.
People now complain about expensive gas and fuel. (Also expensive fuel is increasing prices of logistics that is increasing prices of basically every product)
So the eco friendly and net zero by 2050 goal goes out of the window and hello fossil fuel extraction
What about greener sources of fuel? No thought not nevermind we’re only killing our kids future.
Well this means the extra oil and gas that we get from the uk won’t need to be imported on gas guzzling tankers.
This doesn’t increase demand just our own supply. This whole crisis has been fuelled by our own lack of supply.
It’s cheaper for companies to drill elsewhere already and increased taxes will just incentivise them to drill more in places like Africa and South America.
Sadly the country can’t just stop using fossil fuels over night and producing it at home where we have some of the highest environmental standards in the world is the most eco friendly solution as strange as it may sound.
Am I having a stroke here, or isn’t it usually green energy producers that get cuts?
20 comments
> While announcing his levy, which the chancellor said would ‘tax extraordinary profits fairly and incentivise investments’, Sunak also included in his proposals a new ‘super-deduction’ style relief to encourage firms to invest in oil and gas extraction in the UK.
> It added: “The new 80% Investment Allowance will mean businesses will overall get a 91p tax saving for every £1 they invest – providing them with an additional, immediate incentive to invest. This nearly doubles the tax relief available and means the more investment a firm makes, the less tax they will pay.”
> Wouldn’t it make sense at a time of climate emergency to stop subsidising fossil fuels and invest in insulation and renewables?
It would, but this government isn’t about “making sense”.
It’s almost like the net-zero-by-2050 target is some distant pipe-dream that the govt. aren’t even bothering to work towards.
The windfall tax is actually a subsidy for oil and gas. This government are climate wreckers and a danger to your children.
It’s almost like we’re about to have an energy crisis
I thought we were going to use the levy to invest in more secure sources of energy? Gosh the Tories weren’t *lying* were they? Crazy.
If they *can* extract more fossil fuels then why are they not extracting more fossil fuels without being incentivised?
My question detracts a little from the real question of why we’re continuing to pursue an unstable source of fuel in the first place but I think it needs answering.
The choice for the next few years is import or produce. That’s it.
Who’s to bet they don’t lower prices if they drill more?
You remember playing FF7 for the first time? You plant a bomb in a reactor as you’re part of an eco terrorist group fighting against a corrupt regime which is killing the planet for profit?
Remember thinking you were glad that your government would never be like that of Shinra.
This won’t be popular but is necessary to stop our dependence on Russia, hopefully this is a very temporary thing.
Just about the only thing I can agree with him on lately (if only a little) the guys a colossal cunt.
Your government won’t build you houses.
They won’t safeguard your future from the climate emergency.
They will deliberately place you and your family in a state of precarity so you are forced to do the shit jobs rich families don’t want to do.
Go on twunt face. Kill the planet
Doe he have links to fossil fuel companies?
That’s the usual way with this lot
The environment is yet another thing the Tories really don’t care about.
Oil companies are making billions and the UK government is hell bent on giving them even more goddamn money!!!!! WTF!
Sure as hell see who counts in the country and who does not, filthy little wanker.
Government wants to satisfy it’s people.
People now complain about expensive gas and fuel. (Also expensive fuel is increasing prices of logistics that is increasing prices of basically every product)
So the eco friendly and net zero by 2050 goal goes out of the window and hello fossil fuel extraction
What about greener sources of fuel? No thought not nevermind we’re only killing our kids future.
Well this means the extra oil and gas that we get from the uk won’t need to be imported on gas guzzling tankers.
This doesn’t increase demand just our own supply. This whole crisis has been fuelled by our own lack of supply.
It’s cheaper for companies to drill elsewhere already and increased taxes will just incentivise them to drill more in places like Africa and South America.
Sadly the country can’t just stop using fossil fuels over night and producing it at home where we have some of the highest environmental standards in the world is the most eco friendly solution as strange as it may sound.
Am I having a stroke here, or isn’t it usually green energy producers that get cuts?
This is a joke right?
Right??
Right…
Greenest government ever……..