U.S. President-elect Donald Trump criticized the U.K.'s windfall tax on oil and gas producers in a social media post on Friday, joining other members of his incoming administration in voicing concerns over Prime Minister Keir Starmer's agenda.
“The UK is making a very big mistake. Open Up the North Sea. Get rid of Windmills!” Trump wrote on Truth Social early Friday. The post linked to a November report that U.S. oil company Apache plans to exit the North Sea after the UK’s Energy Profits Levy rendered operations in the country “uneconomic.”
In its first budget, Starmer's government confirmed a 3-percentage-point increase in the windfall tax, raising it to 38%. This brings the total tax rate for U.K. oil and gas producers to 78%, with the levy extended until March 2030. The tax was originally introduced in May 2022 by the previous Conservative government in response to soaring oil and gas prices following Russia's invasion of Ukraine, which led to exceptional profits for producers.
The Labour Party had also promised during last summer’s election campaign to stop issuing North Sea licenses for new oil and gas exploration. The pledge contrasts with Trump’s plans to encourage more domestic oil and gas development in the U.S.
Trump’s comments follow on the barrage of attacks launched by Elon Musk against Starmer in recent days. The world’s richest man, who backed Trump during last year’s vote and has since been named to co-head a new Department of Government Efficiency, has questioned Starmer’s record as Britain’s Director of Public Prosecutions before entering politics, called for new elections to be held in the U.K., and criticized proposals to regulate social media platforms including Musk’s X.
Source: Gazette
Bd-pratidin English/ Jisan
