WithEamon Clark, chief secretary of the treasury, said this morning that if investment plans from oil and gas giants do not “improve” then the Government could look at their run over with contingency tax (cf. post below at 09.00).
His cabinet colleague Alok Sharma, chairman of COP26, is now set out what the government wants to see. In short: in detail quarter-on-quarter plans writing out how money will be spent on improving the UK’s energy supply.
Address to Bloomberg at the World Economic Forum in Davos, Switzerland, Mr. Sharma said: “I want to see in terms of investments in United Kingdom for these companies to set out quarter-on-quarter, just how these profits come through quarter-a-quarter what them plans are in terms of delivery on transition to clean energy in United Kingdom.
“This business of transparency is the issue. of honesty, they need deliver on this, and of of course, if it doesn’t, then I think we should save everything options on Table.”