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UK government revenue news and market signals

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UK Considers Windfall Tax on Oil Firms and Banks Amidst Profit Surge

EnergyBasic

Medium 7/10UK oil companies UK banks

UK Considers Windfall Tax on Oil Firms and Banks Amidst Profit Surge

The UK Chancellor, John Healey, is reportedly considering a new windfall tax on oil companies and banks. This potential measure aims to bolster the nation's fiscal buffer, currently at £22.7bn, and fund defense and cost-of-living pledges.

August 31, 2026Published 1 hour ago