A windfall tax is needed on oil companies’ profits, think tank the New
Economics Foundation has suggested.
NEF warned that Britain had squandered billions of pounds of North Sea
revenues, and should follow Norway’s example of introducing a fund-based on oil
Andrew Simms, NEF policy director, told the Daily Telegraph that oil
companies had wasted its revenues instead of investing them in cleaner and more
green energy supplies.
Its report found that £1 in every £12 of government income comes from the oil
and gas sector, suggesting it made it difficult for the government to encourage
a move away from fossil fuel use.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group