New Clause 3: Finance (No. 2) Bill
New Clause 3 - Analysis of the impact of the energy security investment mechanism
“(1) The Chancellor of the Exchequer must, within three months of this Act being passed, publish an analysis of the possible impacts of the energy security investment mechanism on—
(a) revenue from the energy profits levy, and
(b) investment decisions involving businesses liable to pay the energy profits levy.
(2) The analysis under subsection (1) must consider how the impacts in (1)(a) and (1)(b) would be affected by amending the definition of a qualifying accounting period, as set out in section 1 of the Energy (Oil and Gas) Profits Levy Act 2022, to be one that ends before the end of the next Parliament.
(3) In this section, the “energy security investment mechanism” means the mechanism introduced by section 17A of the Energy (Oil and Gas) Profits Levy Act 2022, as inserted by section 19 of this Act.”—(James Murray.)