Nigel Farage demanded tax cuts for North Sea oil and gas firms today as he set out to woo Scottish voters ahead of a key Holyrood by-election.
The overall rate of 78 percent, which includes the windfall tax, paid by companies that have recorded significant profits in recent years, was criticized by the Reform leader during a visit to Aberdeen.
Mr. Farage, a vocal opponent of Net Zero initiatives, expressed his disapproval of the ‘disastrous’ tax rate. He highlighted that the rate, initially introduced by the Tories and later raised by Labour, is dissuading companies from seeking permits for drilling activities at a time when there is a demand for fossil fuels.
In preparation for the upcoming by-election in Hamilton, Larkhall, and Stonehouse, Mr. Farage proposed that the country should be granted additional powers to generate its own revenue. He emphasized that devolution is an established concept that will endure for the foreseeable future.
He also unveiled a Reform defector from the Tories, local councillor Duncan Massey, and and vowed to unveil a Labour defector when he visits Hamilton later.
Mr Farage said his audience at an upmarket restaurant in the east coast city included several prominent businessmen and businesswomen who are ‘very worried about the future of the oil and gas industry’.
‘2025 will be a year of record consumption of fossil fuels,’ he said.
‘We can con ourselves as much as we like, there’ll be more coal burnt this year than has ever been burnt in the history of mankind.
The Reform leader hit out at the overall rate of 78 – including the windfall tax – paid by companies who have made massive profits in recent years, on a visit to Aberdeen.
A long-standing critic of Net Zero, Mr Farage said the ‘disastrous’ tax rate, brought in by the Tories and increased by Labour, was putting off firms from applying to drill at a time when fossil fuels are needed.
He also unveiled a Reform defector from the Tories, local councillor Duncan Massey, and and vowed to unveil a Labour defector when he visits Hamilton later.
‘And the same applies to the use of gas and oil, even the most ardent opponent of net zero has to accept the world will still be using oil and gas.’
Rachel Reeves increased the Energy Profits Levy (EPL) to 38 per cent in November, which Offshore Energies UK (OEUK) said would push the headline rate on upstream oil and gas activities up to 78 per cent.
The Reform leader also said he was open to looking at alternatives to the Barnett Formula, which has been used to apportion UK government cash to the nations since the 1970s.
While the SNP and Labour were seen as frontrunners in the seat in a contest sparked by Scottish Government minister Christina McKelvie, Reform UK has entered the mix ahead of the vote.
But the party has come in for criticism for how it has campaigned in the seat, with attack ads on Scottish Labour leader Anas Sarwar being branded racist.
Both of the frontrunners have also turned their attacks on Reform, with Mr Sarwar describing Mr Farage as a ‘poisonous little man’ and the First Minister accusing him of bringing ‘racism and hatred’ to the South Lanarkshire race.
As campaigning enters its final days, Mr Swinney warned of the potential threat from Reform, saying: ‘Things remain tough for too many families who feel let down by Labour – who have given up in this campaign – and the deeply concerning rise in support for Farage.
‘Be in no doubt, Nigel Farage doesn’t care about Scotland. He poses a threat to our values and must be stopped, and only the SNP can do that.
‘In this by-election, the SNP is the only party investing in Scotland’s future, delivering for families and confronting Farage. On Thursday, vote SNP to stop Farage.’
A long-standing critic of Net Zero, Mr Farage said the ‘disastrous’ tax rate, brought in by the Tories and increased by Labour, was putting off firms from applying to drill at a time when fossil fuels are needed.
