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Sunak Hints at Decision on Taxing UK Generators Within Weeks (1)

June 6, 2022, 3:47 PM

UK Chancellor of the Exchequer Rishi Sunak signaled that a decision on whether to impose a windfall tax on electricity generators could be announced within weeks.

Speaking to lawmakers Monday, Sunak said the government is working “urgently” with the industry to ascertain the scale of extraordinary profits that would be subject to such a levy.

Asked whether a statement will come in weeks or months, Sunak replied: “not months.” An announcement will be made “as soon as we can go through the work,” he said.

The government last month imposed a 25% levy on the profits of North Sea firms ...