Does The UK Subsidise Fossil Fuels?

UK oil and gas producers pay tax at a much higher rate than the rest of UK industry. In particular:

They pay Corporation Tax at a rate of 30%, instead of the standard rate of 19%.

They also have to pay a Supplementary Charge of 10% on profits

“But it’s a subsi..reeeeeeee”
https://weatheraction.files.wordpress.com/2022/04/wp-1650804719352.jpg

NOT A LOT OF PEOPLE KNOW THAT

By Paul Homewood

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https://notalotofpeopleknowthat.wordpress.com/2022/04/23/renewable-subsidies-have-cost-78-billion-in-last-10-years/

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There has long been a concerted effort by the green lobby to persuade the public that they are paying billions in subsidies to the nasty fossil fuel industry, particularly in the UK. The above comment exemplifies this.

He quotes the OECD, who are of course at heart a political organisation, just like their subsidiary, the IEA. The OECD simply follow their masters wishes, that is the governments who make it up. The OECD’s position on climate change is exactly the same as its member governments:

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https://read.oecd-ilibrary.org/environment/inventory-of-estimated-budgetary-support-and-tax-expenditures-for-fossil-fuels-2013_9789264187610-en#page17

As Rafal comments, the OECD regard “tax reliefs” as “subsidies”. They are no such thing, and the OECD is deliberately misleading people in claiming so.

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