UK Less Attractive Than US, EU for Investment, Shell Chief Says
- Sawan calls for clean energy subsidies in Times interview
- Warns windfall levy and inconsistent tax policy damage UK
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Shell Plc’s new boss said Britain is less attractive as an investment destination than both the US and Europe because it is failing to match green energy subsidies, according to an interview with The Times of London.
Wael Sawan, the oil major’s chief executive, told the newspaper that the UK government should “take a page from some of the things that the US have done recently, through the Inflation Reduction Act,” which, among other measures, allots billions of dollars in incentives for renewable energy companies. He also said the European Union was more attractive for energy investment.