The potential revenue government has surrendered by offering higher rates of relief to oil and gas companies could have been used to insulate two million homes instead, according to a new analysis of the Treasury's energy profits levy by thinktank E3G. Meanwhile, a separate study has estimated the savings of a ten-year programme of home retrofits at up to £140 billion by 2035 if gas prices remain at their current high levels.
Oil and gas levy tax relief ‘could insulate 2m homes’
