Pros and cons of a windfall tax on oil and gas profits

Bumper results for energy companies have caught the chancellor’s eye

A North Sea oil rig
Rishi Sunak has so far refused to introduce a windfall tax
(Image credit: Simon Dawson/Bloomberg via Getty Images)

Rishi Sunak is planning to extend the windfall tax on energy companies’ profits as he looks to raise billions of pounds to plug the country’s fiscal hole.

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