The UK’s Chancellor, Rachel Reeves, announced a series of measures today aimed at boosting clean energy while confirming a tax hike on the nation’s oil and gas industry. The Energy Profits Levy will rise from 35% to 38%, resulting in a 78% headline tax rate. Other measures included GBP 3.9 billion in funding for carbon capture, usage, and storage projects and support for 11 green hydrogen producers between 2025 and 2026...
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