RE: Valuation27 May 2023 11:30
Same old rhetoric - nothing new, and repeated by the financially illiterate. Nobody will invest in new fields and the UK North Sea will run dry. Norway owns Equinor which produces 60% of Norwegian NS output. The Government of Norway and its fund owns 70% of Equinor. So in effect, the majority of production is already privatised. This is not analogous to the UK.
However if the Labour communist party does increase the tax further, even someone as financially illiterate as Rachel Reeves should be able to understand that very soon there will be nothing left to tax and removing investment allowance will cause self-harm to the labour loonies.
However the unelected duo of Sunak and Hunt have already set the destruction in motion.