Spring budget: Chancellor Jeremy Hunt insists he did not throw Scottish Tories 'under the bus' over windfall tax extension

Jeremy Hunt says extending the windfall tax is an ‘acceptable contribution’ for oil and gas giants to make

UK Chancellor Jeremy Hunt insists he has not thrown his Scottish Tory colleagues “under the bus” over windfall tax.

A number of Scottish Conservative MPs are now on resignation watch after saying they will not be voting for the UK Government’s policy to extend the windfall tax on oil and gas giants to 2029.

However, Mr Hunt says the extension is an “acceptable contribution” for the North Sea oil and gas giants to make.

UK Chancellor Jeremy Hunt. Image: Justin Tallis/Getty Images.

The chancellor was asked by BBC Good Morning Scotland if he had thrown Scottish Conservatives “under the bus”.

He said: “No - I appreciate this was a difficult decision for them, and we strongly support the oil and gas industry.

“I think they play an essential role in helping us have energy security and deal with the transition to net zero we are going through.

“But I also needed to be fair going through the public finances.”

Mr Hunt says HM Treasury spent £94 billion last year in cost-of-living support payments, and says oil and gas giants making additional profits of £1.5bn means it is “acceptable” to have them pay more in taxes.

Mr Hunt added: “Nothing has been stable in the world since Vladimir Putin invaded Ukraine.

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“We all hoped at the start we could get him out of Ukraine quickly and get back to having safe borders in Europe, but that’s not been possible and that means higher energy prices will continue.

“I have to pay for the government’s cost-of-living support, and it’s fair to look at this source.”

Scottish Conservative leader Douglas Ross has publicly said he will not vote for the government’s extension of the windfall tax.

This comes after he told Scottish journalists at the weekend he had told the chancellor not to do this before he set out the Spring Budget.

Andrew Bowie, who is MP for West Aberdeenshire and Kincardine and a government minister in the Department for Energy and Net Zero, has publicly backed Mr Ross’s calls - however if he votes against the government on this he would be forced to resign.