Donald Trump Tells UK's Starmer North Sea Oil Taxes Are Too High
As the UK shifts to greener energy such as renewables and nuclear, and away from fossil fuels, Starmer's Labour government has said it won't issue new licenses for North Sea oil and gas extraction, though it will honor existing ones. Last year, Labour upped a windfall tax on oil and gas producers to 38% from 35%, bringing total taxation of the industry to 78%.
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