Budget Resolution No. 13: Energy (oil and gas) profits levy (relief for investment expenditure)
454
Ayes
—
124
Noes
Passed · Government won
72 did not vote
Analysis
Commons
Commons
**What happened:** On 6 November 2024, the House of Commons voted on Budget Resolution No. 13, which concerns the energy profits levy and specifically the relief available to oil and gas companies for investment expenditure. The resolution passed by 454 votes to 124, endorsing the government's plan to reduce the investment allowances that allow oil and gas producers to offset their windfall tax liability against new spending on energy infrastructure. **Why it matters:** The energy profits levy, commonly known as the windfall tax, is a supplementary charge on the profits of North Sea oil and gas companies introduced in response to elevated energy prices. Investment allowances within the levy previously gave companies substantial tax relief when they spent on new exploration or production. By tightening those allowances, this resolution means oil and gas producers will pay more of the levy rather than reducing their bill through qualifying investment. The practical effect is to increase tax revenues from the sector, with the government directing those funds toward public spending priorities, while critics argue the change reduces the financial incentive to invest in domestic energy production. **The politics:** The vote divided almost entirely along party lines. Labour, the Liberal Democrats, Labour and Co-operative, Plaid Cymru, and the Greens all voted in favour, producing the large winning margin. Conservatives, the Scottish National Party, Reform UK, and the Democratic Unionist Party all voted against, though from differing perspectives: Conservatives and Reform argued the change would damage energy investment and energy security, while the SNP expressed concerns about the impact on the Scottish economy and North Sea jobs. There were no notable cross-party rebels on either side. The vote sits within the broader autumn 2024 Budget package, in which the Labour government has sought to raise revenues from the fossil fuel sector while signalling a transition toward clean energy.
Voting Aye meant
Support maintaining the government's reformed investment relief structure within the windfall tax on oil and gas profits, as part of the 2024 Autumn Budget package.
Voting No meant
Oppose the government's approach to investment relief under the windfall tax, likely arguing it is either too generous to oil and gas companies or insufficiently supportive of North Sea investment.
578 voting MPs. Each dot is one vote; left-to-right by party. Grey dots in the centre are the 72 who did not vote.
Aye
No
Absent
Labour PartyWhipped Aye
334
0
28
Conservative and Unionist PartyWhipped No
0
106
10
Liberal DemocratsWhipped Aye
63
0
9
Labour and Co-operative PartyWhipped Aye
36
0
6
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
3
0
1
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