Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the Government's Observations made on 7 November 2022 on petition P002765 on the Energy Profits Levy, presented by the hon. Member for Leeds East on 7 September 2022, (a) if he will publish a breakdown of the £28 billion that the Government estimates will be raised by that levy over the period 2025-26 and (b) how much in total does he expect to be raised in Financial Year 2022-23 from taxes on North Sea oil and gas companies including both normal taxes and the Energy Profits Levy.

A breakdown of revenues expected from the Energy Profits Levy (EPL) for the period 2022-23 to 2026-27 is published in the 23 September Growth Plan, Table 4.2.

Estimates for the other North Sea taxes (ring-fence Corporation Tax and Petroleum Revenue Tax) are published in Table 3.4 of the Office for Budget Responsibility’s Economic and Fiscal Outlook (March 2022).

Updated estimates for all of these taxes will be published at the Autumn Statement on 17 November.