Chancellor Defends Extension of Windfall Tax on Oil and Gas Firms Amidst Scottish Tory Outrage

Jeremy Hunt insists the decision is fair and necessary due to prolonged high oil prices, despite strong opposition from Scottish Conservatives

Jeremy Hunt extends the windfall tax on oil and gas firms until 2029, citing prolonged high oil prices due to the Ukraine war.
Scottish Tory leader Douglas Ross vows to vote against the legislation, expressing concern over the impact on the general election campaign.
The extension is expected to generate an additional £1.5 billion, but faces criticism for potentially hindering investment in net zero transition.
Labour supports the extension, while the SNP opposes it, arguing it risks Scotland's investment in a net zero future.
Hunt emphasizes the government's support for the oil and gas industry, contrasting Conservative and Labour approaches to energy policy.