Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what her planned timetable is for ending the investment allowance within the Energy Profits Levy.

Changes to the Energy Profits Levy (EPL), including increasing the levy by 3 per cent to 38 per cent and removing the levy’s 29% investment allowance, will be implemented from 1 November 2024. This was announced by the Chancellor on 29^th July and the Government will legislate for these changes in the Autumn Finance Bill.