"Labour’s call for a windfall tax on North Sea oil and gas follows in Thatcher’s footsteps. The call has gone up to raid oil and gas profits as crude prices soar and the cost-of-living crisis bites. But would it do more harm than good, asks Jon Yeomans"
"With a windfall tax, you're not discouraging people from consuming energy, which is what the UK should do if it wants to achieve climate neutrality," says Alice Pirlot of the Centre for Business Taxation at Oxford University. Such a move would most probably require a "rethink of the entire UK tax system".
