UK Chancellor of the Exchequer Rishi Sunak remained committed to his windfall tax. UK Chancellor of the Exchequer Rishi Sunak remained committed to his windfall tax on oil and gas profits despite protests from industry executives during their first meeting since the announcement. Sunak, who said last month he would impose the 25% levy, told them the tax would be temporary and is a vital way to support households facing a surge in the cost of living, according to a statement from the Treasury. The discussion with about 20 oil and gas business leaders, which took place in Aberdeen, Scotland on Thursday was “candid and constructive,” according to Offshore Energies UK. But the industry group reiterated that the tax would hit investor confidence in the country. “The Energy Profits Levy is an unexpected new tax that changes the basis for investments,” OEUK Chief Executive Deirdre Michie said in a […]