Budget Resolution No. 12: Energy (oil and gas) profits levy (increase in rate)
455
Ayes
—
125
Noes
Passed · Government won
65 did not vote
Analysis
Commons
Commons
**What happened:** On 6 November 2024, the House of Commons voted on Budget Resolution No. 12, which proposed increasing the Energy Profits Levy (the windfall tax on oil and gas company profits) from 35% to 38%. The motion passed by 455 votes to 125, a majority of 330. **Why it matters:** The increase in the windfall tax rate forms part of the government's post-Budget legislative package, raising the headline tax rate on the profits of oil and gas producers operating in the North Sea. Combined with existing North Sea taxation, the levy brings the total tax rate on such profits to 78%. The measure is intended to raise additional public revenue during a period of elevated energy company profits, contributing to broader fiscal plans announced in the Autumn Budget 2024. The policy directly affects oil and gas companies operating on the UK Continental Shelf, with potential knock-on effects for investment decisions, employment in the energy sector, and the longer-term trajectory of North Sea production. **The politics:** The vote split along largely predictable party lines. Labour, Labour and Co-operative, Liberal Democrat, Plaid Cymru, and Green MPs all voted in favour, while Conservatives, the Scottish National Party, Reform UK, and the Democratic Unionist Party voted against. A small number of independents fell on both sides. There were no notable rebels within the major parties. The SNP's opposition is notable given Scotland's particular economic exposure to North Sea oil and gas; the party argued the measure would deter investment in Scottish waters. The Conservatives and Reform UK framed their opposition around energy investment and competitiveness, placing this vote within a wider debate about the balance between taxing fossil fuel profits and maintaining conditions for domestic energy production.
Voting Aye meant
Support increasing the windfall tax on oil and gas company profits as part of the government's Budget measures
Voting No meant
Oppose raising the windfall tax rate on oil and gas producers, likely citing concerns about investment in North Sea energy, energy security, or the impact on jobs
580 voting MPs. Each dot is one vote; left-to-right by party. Grey dots in the centre are the 65 who did not vote.
Aye
No
Absent
Labour PartyWhipped Aye
337
0
25
Conservative and Unionist PartyWhipped No
0
106
10
Liberal DemocratsWhipped Aye
65
0
7
Labour and Co-operative PartyWhipped Aye
37
0
5
Independent
8
3
3
Scottish National PartyWhipped No
0
9
—
Reform UKWhipped No
0
4
3
Sinn Féin
0
0
7
Democratic Unionist PartyWhipped No
0
3
2
Green Party of England and WalesWhipped Aye
4
0
—
Plaid CymruWhipped Aye
4
0
—
Social Democratic and Labour Party
1
0
1
Alliance Party of Northern Ireland
0
0
1
Speaker
0
0
1
Traditional Unionist Voice
0
1
—
Ulster Unionist Party
1
0
—
Your Party
1
0
—
Growth requires public investment in infrastructure, services and regions; Budget sets foundation for long-term prosperity by restoring fiscal stability; inheritance tax changes affect only ~500 farms; OBR cannot model planning reform, industrial strategy, or trade policy benefits.Labour · Voted aye · Read full speech (2,935 words) →
Budget crushes business with £25bn national insurance 'jobs tax' that reduces wages more than revenue raised; inheritance tax and capital gains changes attack family businesses; no evidence Budget will drive growth; Government lacks business experience.Conservative · Voted no · Read full speech (3,345 words) →
NHS investment welcome but social care silence unacceptable; national insurance rise harms small businesses, GPs, hospices and high streets; business rates reforms insufficient; urges exemptions for charities and social care; growth should not rely solely on infrastructure investment.Liberal Democrat · Voted aye · Read full speech (1,694 words) →
OBR forecasts show GDP growth will slow and turn negative in years 4-5; Budget will shrink private sector, not grow it; challenges Government's claim growth is central mission.Conservative · Voted no · Read full speech (97 words) →
Private sector, not public investment, drives growth; Budget fails to help businesses; national insurance rise nets only £16bn after lost investment, with 75% burden falling on workers' wages.Conservative · Voted no · Read full speech (1,600 words) →
Last 14 years left public services fragile; Budget offers hope with NHS funding, affordable housing, homelessness support; temporary accommodation crisis affecting children requires urgent further action.Labour · Voted aye · Read full speech (912 words) →
Labour broke election promises on taxes, borrowing and inheritance tax; Budget leans into broken economic model with more borrowing and tax-spend rather than fixing structural problems (planning, migration, capital markets); A303 transport cuts regretted.Conservative · Voted no · Read full speech (2,223 words) →
Many good things in Budget but inheritance tax threatens family farms; threshold should be raised to £4-5m to protect farmers; every farmer in Northern Ireland will be affected.DUP · Voted no · Read full speech (173 words) →
Sources
Division dataUK Parliament Votes API
DebateHansard · Commons
Stance analysisAI analysis · Claude 4.x
LicenceOpen Parliament Licence v3.0