Oh dear, Krishnan Guru-Murthy asks about the receipts from oil and gas going into Labour's Energy Wealth Fund,
Tessa Khan, "The OBR made a forecast before the price spikes caused by the Iran war that by 2030, the tax take from the North Sea oil and gas sector, will be £0.1 billion"
"That's not enough to bring down people's energy bills"
My view:
Labour is talking up an Energy Wealth Fund financed by North Sea revenues, but the OBR’s pre-Iran-war forecast put oil and gas tax receipts at just £100 million in 2030–31.
That’s the projected tax take for the whole year — nowhere near enough to make a meaningful dent in energy bills.
So when ministers suggest North Sea revenues can help bring bills down, where’s the money actually coming from?