The Exchequer Secretary to the Treasury, James Murray, met with senior figures from the offshore energy sector in Aberdeen to discuss the implications of recent fiscal policies.
The meeting, hosted at Offshore Energies UK’s offices, focused on the Energy Profits Levy (EPL) and potential changes to capital allowances that could affect the industry.
Industry leaders expressed concerns that these changes could undermine the UK’s competitiveness and hinder progress towards a sustainable energy transition.
David Whitehouse, Chief Executive Officer Offshore Energies UK, commented: “Decisions made by this government in the coming weeks could jeopardise thousands of jobs and billions of pounds in economic value.
“Everyone in the room shared the minister’s ambition for a clean energy future. But this future can only be achieved in partnership with the oil and gas sector and by policies that support jobs, attract investment and anchor business here in the UK.
“There is no simple choice between oil and gas and renewables – we need both to deliver energy security and a homegrown transition.”
