Chancellor Jeremy Hunt has described the decision to extend the windfall tax on energy firms as a challenging one.
Mr Hunt pointed to the ongoing global instability, especially the conflict in Ukraine, as a key factor necessitating the move.
According to the Chancellor, energy companies have unexpectedly reaped substantial profits amid these turbulent times.
Jeremy Hunt told BBC Radio Scotland’s Good Morning Scotland programme: “Nothing has been stable in the world since Vladimir Putin decided to invade Ukraine. That is the fundamental cause of instability.”
However, this decision has sparked reactions, particularly from Scottish Conservative leader Douglas Ross and energy minister Andrew Bowie.
Both have expressed disappointment with the extension, labelling it as “deeply disappointing”.
In a statement to The Press And Journal newspaper, Douglas Ross reiterated his determination to urge the UK Government to reconsider the decision.
Mr Ross argued that taxing energy companies more would impede their ability to invest in transitioning to net zero and generating additional Scottish employment opportunities.
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