Sir Jim Ratcliffe attacks Labour plans days after backing Starmer
The TelegraphLabour’s green energy plans will tax the North Sea “out of existence”, Sir Jim Ratcliffe has warned, days after he publicly backed Sir Keir Starmer. The chief executive of chemicals giant Ineos and co-owner of Manchester United said Labour’s plans to raise taxes on oil and gas producers meant “the North Sea will become extinct relatively soon”. He said Sir Keir Starmer’s plans, which also include slashing North Sea tax allowances, would undermine Britain’s energy security and lead to increased imports from overseas. “We’ve not had the most successful patch with the Conservatives so the mood in the country is that we need a change.” Sir Jim’s endorsement of Sir Keir marks a change in attitude for the entrepreneur, although he remains sceptical of Labour’s net zero policies.
History of this topic
Starmer promises to make Britain a ‘clean energy superpower’
The Independent
Yousaf: Labour’s energy plans will leave oil industry workers ‘on scrapheap’
The Independent
Senior Scottish Labour councillor quits over Starmer’s oil and gas ban
The Independent
North Sea operator blames windfall tax as it axes 350 jobs
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