WILL GIANT SHELL OUT LESS?
Oil giant Shell’s UK chairman yesterday warned its North Sea investments would be decided on a “case-by-case basis” after the windfall tax decision.
Shell unveiled plans earlier this year to invest up to £25billion in the UK over the next decade.
David Bunch told the CBI conference in Birmingham that the Budget tax hike was “challenging” and called for “modifications”.
Shell was slammed after admitting it wouldn’t pay the existing UK windfall tax this year due to money already invested. Mr Bunch said: “We will pay hundreds of millions going forwards.”