First Minister John Swinney has issued a final appeal to the UK Government ahead of tomorrow’s Budget, warning that the windfall tax is “costing jobs and driving a more rapid decline in the North Sea.”
Writing in today’s Press & Journal, he said Labour at Westminster has "chosen to accelerate the decline in oil and gas".
“There was a time when the oil and gas giants were making windfall profits – but those days ended years ago," he said.
"The idea that there is any North Sea windfall to tax is now laughable.”
Industry leaders across oil, gas and renewables have united in calling for reform of the Energy Profits Levy, which critics say is risking the loss of 1,000 direct and indirect jobs every month.
Swinney argues the UK Government is “accelerating the decline in oil and gas,” adding: “The EPL should be scrapped and a proportionate tax regime established. The accelerated decline in the North Sea must be stopped.”
Click here to read the full story in today's Press & Journal.