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Sunak’s wrongheaded renewables tax risks trashing Britain’s wind and solar ambitions.

DR NINA SKORUPSKA: Sunak’s wrongheaded renewables tax risks trashing
Britain’s wind and solar ambitions. The Government must change course,
otherwise we will see winters even more painful than this one.

Call it what you will – a windfall tax, a clawback, a levy – the fact remains that the
Electricity Generator Levy (EGL), in its current form, is set to cause
irreparable damage to Britain’s green energy industry by stalling
investment. In principle, our sector is certainly not against the
Government’s policy to require generators to help pay for energy bill
support.

However, we would question the wisdom of subjecting the cheaper,
greener renewable power sector to a more punishing tax regime than its oil
and gas counterparts. It is an inexplicable disparity – our sector is key
to tackling the volatile costs of fossil fuels at the heart of rising
energy bills. Treatment should be fair and equitable in relation to the oil
and gas sector.

Telegraph 23rd Dec 2022

https://www.telegraph.co.uk/business/2022/12/23/sunaks-wrongheaded-renewables-tax-risks-trashing-britains-wind/

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December 28, 2022 - Posted by | politics, renewable, UK

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