Why are we still subsidising fossil fuels?
The Climate Question
00:00
The UK Oil and Gas Industry Needs an Investment Allowance
Every company relies on allowances because it's a really important lever that government have to direct investment into different spaces. We want to keep companies here in the UK not just to deliver our energy security goals but also make sure they're here to deliver offshore wind objectives. To do that though we need to be seen as a competitive place so that capital flows into the UK rather than flowing to other places, maybe Norway or other places. Making sure we have a stable fiscal regime needs to be a priority.
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