U.K. Announces Windfall Tax on Oil and Gas Profits - The New York Times

The tax on the “extraordinary” profits of oil and gas companies is expected to raise 5 billion pounds and help fund £15 billion in payments to households.

In April, the cap on household energy bills rose 54 percent, raising the amount that 22 million households pay to about £2,000 a year. The government gave most households £150 off their household bil… [+1198 chars]

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