Kemi Badenoch to call for end to energy windfall tax and oil licence ban
Tory leader Kemi Badenoch is poised to advocate for the end of the windfall tax on oil and gas firms and the ban on new licences in a major speechInitially established by the prior Conservative administration but extended upon Labour’s ascent to power, the energy profits levy was intended to finance initiatives aimed at reducing household expenses. However, the policy has faced criticism from within the industry.Addressing the Scottish Conservative conference in Edinburgh on Friday, Ms Badenoch is anticipated to champion the oil and gas sector, accusing the UK Government of “killing” it. She is expected to assert that “renewing our party and our country means standing up for our oil and gas industry”.She will add: “When the oil and gas windfall tax, the energy profits levy, was brought in, the oil price was near a historic high, at the exact time as energy bills for the British people were sky-rocketing.“But there is no longer a windfall to tax. It has long gone. And the longer this regressive tax on one of our most successful industries remains, the more damaging it becomes.Conservative Party leader Kemi Badenoch More