Budget Resolution No. 14: Energy (oil and gas) profits levy (period for which levy has effect)
450
Ayes
—
120
Noes
Passed · Government won
78 did not vote
Analysis
Commons
Commons
**What happened:** On 6 November 2024, the House of Commons voted on Budget Resolution No. 14, which concerned extending the energy profits levy (commonly called the windfall tax on oil and gas companies) until March 2030, rather than allowing it to expire in March 2028. The resolution passed by 450 votes to 120, a majority of 330. **Why it matters:** The extension means oil and gas companies operating in the UK, primarily in the North Sea, will face the additional levy on their profits for two further years beyond the original end date. The windfall tax, introduced in 2022 in response to soaring energy profits following Russia's invasion of Ukraine, raises revenue for the Treasury. Extending it to 2030 is designed to capture additional public revenue during a period when the government is seeking to fund public services and reduce borrowing. The flip side is that critics argue the longer timeframe increases uncertainty for energy companies considering long-term investment in domestic oil and gas production, which could affect energy security and jobs in the sector. **The politics:** The vote divided almost entirely along party lines. Labour (including Labour and Co-operative members), Liberal Democrats, the Greens, and Plaid Cymru all voted in favour, reflecting a broad left and centre-left coalition behind the measure. Conservatives, the Scottish National Party, Reform UK, and the Democratic Unionist Party all voted against, though for different reasons: Conservatives and Reform emphasised investment uncertainty, while the SNP's opposition is notable given Scotland's particular stake in the North Sea oil and gas industry. The SNP's no vote reflects longstanding tensions over how North Sea revenues are managed and concerns about Scottish energy sector jobs. The result was never in doubt given Labour's commanding majority, but the scale of cross-opposition resistance illustrates how energy taxation remains a sharply contested issue.
Voting Aye meant
Support extending the windfall tax on oil and gas company profits for the period specified in the Budget resolution
Voting No meant
Oppose extending the windfall tax on oil and gas profits, likely citing concerns about investment in domestic energy production or the impact on the sector
570 voting MPs. Each dot is one vote; left-to-right by party. Grey dots in the centre are the 78 who did not vote.
Aye
No
Absent
Labour PartyWhipped Aye
331
0
31
Conservative and Unionist PartyWhipped No
0
101
15
Liberal DemocratsWhipped Aye
64
0
8
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
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