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The WT may not be scrapped.
More changes to the Bill like the one BP.or..2b mentions are increasingly likely.
Give the new Chancellor a chance to get his feet under the desk and pick up the Energy Levy file! I am sure it will be one of the first he picks up.
We are not the only ones on this BB having doubts. Lawmakers too...
On the Energy Profits Levy Bill:
Alison Thewliss Shadow SNP Spokesperson (Treasury) 7:13 pm, 5th July 2022
It is a pleasure to see you in the Chair, Mr Deputy Speaker. What a strange evening for us to be making speeches in the House. While the Minister did a good job of putting forward the policy, we have to ask who the Chancellor will be by the time the Bill comes to the House next week and, indeed, whether it will still stand when it does come.
I think until yesterday there was a slight chance of an amendment to the WT/EPL to allow for hedging and prior investment.
Today however I think there is a reasonable chance of seeing the tax being scrapped altogether.
I would top up before the new Chancellor pulls the plug on the EPL, or at least waters it down.
‘Nothing off the table’, says Nadhim Zahawi as he prepares sweeping tax cuts to save PM
Mr.Flibbles
https://www.theyworkforyou.com/alert/
This should get you started, but keep checking the Hansard pages and the progress of the actual Bill which is being introduced to the Commons on 11th July.
A fair comment from Mr Flibbles and one that probably chimes with a few of us.
I understand that there were a number of recommendations during the recent consultation process (which ended on 28th June), for the Energy Proits Levy Bill to be amended to include an allowance for hedging.
Q: Rachel Reeves Shadow Chancellor of the Exchequer
To ask the Chancellor of the Exchequer, with reference Draft legislation: Energy (Oil and Gas) Profits Levy Bill published on 21 June 2022 by his Department, what his timescale is for publishing a Tax Information and Impact Note for the Energy Profits Levy.
A: Lucy Frazer The Financial Secretary to the Treasury
The legislation for the Energy Profits Levy will be formally introduced in Parliament shortly, and the Government will publish a Tax Information and Impact Note alongside its introduction.
Jookie no one counters what you say because your arguments are vapid and vague.
You say things like '...if you don't know where this is going...'
Well, we don't know where this is going because no one can penetrate that troubled mind of yours. What is the issue Jookie? In one sentence please?
Rishi and the gang...
https://twitter.com/RishiSunak/status/1539967884063129600/photo/1
I've been involved in a number of roundtables with DLUHC, BEIS etc ahead of new legislation. It is very rare for them to roll out even a junior minister, so as @Sekforde stated, this is hugely significant and hopefully, promising.
Here you go everyone, have your say as part of the consultation:
https://www.gov.uk/government/consultations/draft-legislation-energy-oil-and-gas-profits-levy-bill
No conspiracy theories please, sensible comment only...
It is clearly a massive plan to turn us all into slaves to the lizard men. We are just sheeple.
https://www.truthbrary.org/spotting-a-lizard