{"id":494165,"date":"2022-05-28T09:38:47","date_gmt":"2022-05-28T04:08:47","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=494165"},"modified":"2022-05-28T10:30:00","modified_gmt":"2022-05-28T05:00:00","slug":"uk-announces-25-levy-on-energy-firms-to-ease-cost-of-living-crisis","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/uk-announces-25-levy-on-energy-firms-to-ease-cost-of-living-crisis\/","title":{"rendered":"UK announces 25% levy on energy firms to ease cost-of-living crisis"},"content":{"rendered":"<p>The UK announced that it will impose a 25 per cent levy on the profits of oil and gas companies, to ease the financial burden on millions of households amid raging inflation.<\/p>\n<p>As a temporary policy, the tax would be phased out &#8220;when oil and gas prices return to historically more normal levels&#8221;, with a sunset clause written into the legislation, Xinhua news agency quoted Chancellor Rishi Sunak as saying at the House of Commons on Thursday.<\/p>\n<p>The levy was first proposed by the opposition Labour party, but the government did not express much support for it.<\/p>\n<p>However, Sunak has said on several occasions that nothing was off the table in the face of the worsening cost-of-living crisis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UK announced that it will impose a 25 per cent levy on the profits of oil and gas companies, to ease the financial burden on millions of households amid raging inflation. As a temporary policy, the tax would be phased out &#8220;when oil and gas prices return to historically more normal levels&#8221;, with a sunset clause written into the legislation, Xinhua news agency quoted Chancellor Rishi Sunak as saying at the House of Commons on Thursday. The levy was first proposed by the opposition Labour party, but the government did not express much support for it. However, Sunak has [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-494165","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/494165","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=494165"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/494165\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=494165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=494165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=494165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}