EY has identified the Energy Profits Levy as a hindrance to investment, leading Aberdeen to experience the slowest economic growth in the UK, with an anticipated average GVA growth rate of 0.8% from 2024 to 2027.
Energy Profits Levy
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In response to persistent advocacy by the Aberdeen & Grampian Chamber of Commerce, the UK government has announced changes to the windfall tax, slated to take effect from April.
Shell has announced that it will face a $2 billion (£1.7bn) liability in the fourth quarter of this year due to windfall tax measures in the UK and EU.