UK announces energy firm windfall tax May 26, 2022

from World Business Report· ·

The UK is to impose a 25% levy on energy company profits to fund payments to households. Deirdre Michie is chief executive of Offshore Energies UK, and gives us her reaction to the government's announcement. Also in the programme, Russia's Central Bank has unexpectedly cut interest rates by 3 percentage points to 11%, citing a strengthening rouble. Dr Adnan Vatansever is acting director of King's College London's Russia Institute, and talks us through the health of Russia's economy. The BBC's Archana Shukla reports from Sri Lanka on medicine shortages in the country, caused by a deepening economic crisis. Plus, as …



The UK is to impose a 25% levy on energy company profits to fund payments to households. Deirdre Michie is chief executive of Offshore Energies UK, and gives us her reaction to the government's announcement. Also in the programme, Russia's Central Bank has unexpectedly cut interest rates by 3 percentage points to 11%, citing a strengthening rouble. Dr Adnan Vatansever is acting director of King's College London's Russia Institute, and talks us through the health of Russia's economy. The BBC's Archana Shukla reports from Sri Lanka on medicine shortages in the country, caused by a deepening economic crisis. Plus, as the value of wool falls, more and more farmers are turning to sheep that do not need to be sheared. Tim White is a British sheep farmer who owns a company which sells a breed that moults rather than needing shearing.