Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions she has had with oil and gas companies, industry representatives, supply chains and the energy sector on the impact of the Energy Profits Levy on the availability of investment and skilled workforce to deliver clean power projects.

The Chancellor and her Ministerial team have regular discussions with the oil and gas sector on a range of policy matters, including the Energy Profits Levy (EPL).

The Energy Profits Levy (EPL) was introduced in 2022 by the previous government.

The government remains committed to managing the North Sea in a way that ensures a fair, orderly and prosperous transition, while recognising that domestic oil and gas will continue to play a role in the UK’s energy mix for decades to come. We recognise the vital economic contribution of the sector in Noth-East Scotland, supporting over 150,000 jobs nationwide and underpinning the UK’s energy security. That is why the North Sea Future Plan, published at Autumn Budget 2025, announced a new Jobs Brokerage Service offering end-to-end career transition support for oil and gas workers. Earlier in October the government also published the Clean Energy Jobs Plan which sets out cross-cutting actions to deliver the skilled workforce needed to make Britain a clean energy superpower, including delivering Clean Power 2030.

Additionally, Autumn Budget 2025 set a clear path for the EPL to end by 2030 at the latest, or earlier if the EPL’s price floor, the Energy Security Investment Mechanism, is triggered. We have also given the oil and gas sector long-term certainty by confirming details of the future fiscal and regulatory regime, giving investors the long-term certainty and predictability they need to keep investing.