Tuesday 10 December 2019, 12:10 AM
UK's Labour may propose windfall tax on oil industry
By IANS | Bharat Defence Kavach | Publish Date: 11/21/2019 4:32:35 PM
UK's Labour may propose windfall tax on oil industry

London: Britain's opposition Labour Party's general election manifesto is likely to include a windfall tax on oil industry, media reports said.The latest move is part of Jeremy Corbyn's plan to "transform" Britain into a green economy, BBC reported.

The manifesto, expected to be released later, will include "radical" environment polices, said party sources.Labour's manifesto is likely to lay a special emphasis on public transport, including restoration of axed bus routes.

Corbyn has promised to establish a £250bn Green Transformation Fund -- to be paid for through borrowing -- to fund 300,000 "green apprenticeships" and loans for electric cars.In September, Labour's conference passed a motion urging the party to commit to make the UK carbon neutral by 2030, matching the Green Party's major election promise.

Tags:

Britain,opposition,Labour Party,Corbyn,250bn

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