UK Urged to Cut Taxes for Oil Giants Amid Looming Trade War

Oil giants such as BP and Shell who operate in the North Sea should be given huge tax breaks to help protect the UK against Donald Trump’s burgeoning trade war, Chancellor Rachel Reeves has been told. Aberdeen & Grampian Chamber of Commerce is calling on the UK government to reduce the 78 per cent tax burden on North Sea oil and gas producers, which also includes the likes of billionaire Sir Jim Radcliffe’s Ineos Group. The lobby group said the move would be a “key first step towards greater domestic energy security”…