OEUK’s 2025 Budget Submission
Our submission sets out three priorities to secure investment, deliver low-carbon growth and ensure affordable energy for the UK.
Explore Our Priorities ↓Our Priorities for the 2025 Budget
OEUK’s plan brings together oil and gas, carbon capture and offshore wind. These industries work side by side to deliver secure and affordable energy, create jobs and keep the UK competitive on the path to net zero.
1. Restore investor confidence
Replace the temporary Energy Profits Levy with a permanent, profits-based mechanism to restore investor confidence and the long-term competitiveness of the UK’s offshore oil and gas industry. This should be introduced in 2026 rather than 2030.
2. Deliver the carbon capture pipeline
Provide the committed funding needed to deliver the UK’s carbon capture and storage projects, including expanding Track 1 clusters HyNet and East Coast Cluster, enabling Track 2 clusters Viking and Acorn to reach final investment decisions before the end of this Parliament, and opening a route to market for projects outside the cluster sequencing process.
3. Support offshore wind growth
Deliver a steady offshore wind pipeline that supports the UK supply chain, improves its competitiveness, drives cost reductions and prevents high electricity prices being locked in at the expense of consumers.
The Challenge
75 %
of the UK’s energy still comes from oil and gas
50 %
of that is produced in the UK
1,000
jobs are lost every month without reform
£160 bn
in economic value has been lost since 2019 due to policy uncertainty
Without action, domestic production could halve by 2030. This would increase imports, reduce tax revenues and risk thousands of skilled UK jobs.
Our Proposal
OEUK’s plan supports investment, protects jobs and helps accelerate the UK’s transition to net zero. Stable policy and clear fiscal rules will attract capital, strengthen supply chains and support communities across the country.
+ £137 bn
added to the UK economy by 2050
+ £12 bn
in additional tax revenue
+ £40 bn
in new capital investment
160,000
jobs protected across the UK
23,000
new roles created
50 %
cut in emissions by 2030
Impact Across the UK
Aberdeen and North East Scotland
More than 23,000 jobs supported through investment in offshore energy
Teesside and Humber
Billions of pounds of new energy and infrastructure investment
East Anglia
5,000 skilled jobs protected through energy transition projects
Merseyside and North West England
Growth in supply chain and manufacturing opportunities
Reform will strengthen industrial regions, support communities and safeguard skills vital to the UK’s energy future.
Building the UK’s Energy Future
OEUK proposes the creation of Offshore Energy Mission Control to bring together government, regulators and industry. This will ensure joined up delivery across oil and gas, carbon capture, hydrogen and wind, supporting a secure and low carbon energy system.
- Creates a single coordinated framework for delivery
- Speeds up licensing, investment and infrastructure development
- Ensures at least half of UK energy demand is met from domestic sources
Show Your Support
Add your name to show support for a plan that protects jobs, secures investment and powers the UK with homegrown energy