Industry: Carbon Emissions

Treasury written question – answered on 22nd November 2021.

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Photo of Helen Hayes Helen Hayes Labour, Dulwich and West Norwood

To ask the Chancellor of the Exchequer, what assessment he has made of the tax reliefs offered to carbon intensive industries, including those companies drilling for oil and gas in the North Sea.

Photo of Helen Whately Helen Whately The Exchequer Secretary

HMRC have an annual tax reliefs statistics publication which is available to the public. The latest version of this was published in October 2020 and includes outturn cost estimates for tax reliefs for a five-year period up to and including 2019-20. This includes reliefs offered to carbon-intensive industries, including those companies drilling for oil and gas in the North Sea.

The Government keeps all taxes under review.

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