Energy and Environment

Windfall taxes “hurt consumers”, warns IEA spokesperson

Annabel Denham referenced in City AM

Annabel Denham, IEA Director of Communications, has been referenced in City AM for a piece she wrote earlier this week on the proposed windfall tax on North Sea oil and gas firms.

Annabel argued:

“They [windfall taxes] hurt consumers by stifling competition: while incumbents must put up with the tax regime, new entrants can divert their efforts elsewhere. And they risk a decline in investment, given few investors will put funds towards an industry that is subject to an unstable tax policy.”

Read the full article here.