RE: £1.5bn wiped off Mkt Cap in 6 weeks? For $100m extra tax27 May 2022 20:45
Investec analyst Nathan Piper says: “In our view, this multi-year tax increase (from 40-65% overall) is likely to check investment in the UK North Sea, with a follow-on impact on jobs and production.
“To some extent, Harbour, given extensive reinvestment opportunities, is able to mitigate the tax. The levy includes an uplift in current capex in an attempt to stimulate investment.”