UK minister ‘confident’ of North Sea investment despite windfall tax

The energy sector has already warned of the damage it says an increase in taxes will do.

Steven Brown

The UK Energy Minister says he’s confident that investment will continue in the North Sea – despite a planned increase in the windfall tax.

Michael Shanks says he believes the North and East of Scotland has the potential to significantly benefit from the growth in renewables.

STV News is now on WhatsApp

Get all the latest news from around the country

Follow STV News
Follow STV News on WhatsApp

Scan the QR code on your mobile device for all the latest news from around the country

WhatsApp channel QR Code

Today's Top Stories

Storm Bert: Snow and rain hits Scotland as multiple Met Office warnings come into place
Scotland

'Do not travel': Warning issued as Storm Bert hits Scotland with snow and rain

Paisley schoolboy scarred for life by XL Bully gifted tickets to first Rangers game
Glasgow & West

Schoolboy scarred for life by XL Bully gifted tickets to first Rangers game

Skye murder accused ‘saw himself as a victim’, trial hears
Highlands & Islands

Skye murder accused 'saw himself as a victim', trial hears

Norovirus cases on the rise in Scotland as health experts issue warning
Play icon
Scotland

Warning issued over rising number of norovirus cases across Scotland 

Rare white squirrels become regular visitors to Edinburgh garden 
Play icon
Edinburgh & East

Rare white squirrels become regular visitors to Scots garden 

Dumbarton ‘fighting fund’ reaches £60,000 as fundraising target smashed
Sport

Dumbarton 'fighting fund' reaches £60,000 as fundraising target smashed

Concerns grow after woman’s ‘out of character’ disappearance in Outer Hebrides
Highlands & Islands

Concerns grow after woman's 'out of character' disappearance

Popular Videos

Women fear lack of maternity and gynaecological services in NHS Highland putting lives at risk
Play icon
Scotland

Maternity care: 'My biggest fear is there will be an avoidable death'

Web chat service helps more than 1,000 people with self-harm issues
Play icon
Edinburgh & East

Web chat service helps more than 1,000 people with self-harm issues

Farmers to descend on Westminster in protest at inheritance tax changes
Play icon
UK & International

Farmers to descend on Westminster in protest at inheritance tax changes

Salmonella bacteria could be used as bowel cancer treatment, according to Glasgow research institute
Play icon
Scotland

Could salmonella help fight bowel cancer?

Skye murder trial: Osteopath disarmed former patient after he ‘shot him and his wife’
Play icon
Highlands & Islands

Osteopath disarmed former patient after he 'shot him and his wife'

Latest in Scotland

UK will stand by Ukraine despite Putin’s ‘irresponsible rhetoric’, vows minister
Politics

UK will stand by Ukraine despite Putin’s ‘irresponsible rhetoric’, vows minister

Storm Bert to hit Scotland with significant snowfall, heavy rain and strong winds
Insight

Storm Bert to hit Scotland with significant snowfall, heavy rain and strong winds

Philip Petrie
Philip Petrie
Scottish hospitality facing up to 70% higher business rates than in England
Scotland

Scottish hospitality facing up to 70% higher business rates than in England

Police warn drivers against travelling during Storm Bert amid heavy snow and ice alert
Play icon
Scotland

Police warn drivers against travelling during Storm Bert amid snow and ice alert

Plans to release nearly 400 prisoners take step forward as Bill passes first vote
Scotland

Plans to release nearly 400 prisoners take step forward as Bill passes first vote

Scots ‘more likely’ to die at work than rest of UK, report reveals
Scotland

Scots more likely to die at work than rest of UK, report reveals

Tributes paid to founder of One Devonshire and Malmaison Hotels Ken McCulloch
Scotland

Tributes paid to founder of One Devonshire and Malmaison Hotels

Trending Now

Laos hostel owners held over deadly tainted alcohol poisonings
UK & International

Laos hostel owners held over deadly tainted alcohol poisonings

Sir Chris Hoy ‘openness’ sees surge in prostate cancer awareness, charity says
Scotland

Sir Chris Hoy ‘openness’ sees surge in prostate cancer awareness, charity says

Jury in civil court finds Conor McGregor raped woman in hotel
UK & International

Jury in civil court finds Conor McGregor raped woman in hotel