Abolish the Energy Profits Levy

We think the EPL is fiscally reckless and industrially destructive. In our view, it was introduced during a short-lived price spike, it now persists even as oil trades at a lower level. Investment has collapsed, viable fields are being shut down, and many skilled UK jobs are vanishing. We think we are dismantling a world class industry for no gain. We think the tax is harming energy security, communities, and the economy. We think it must be abolished now, before more permanent damage is done.