Last mentioned: Mar 4, 2026
Implementation
New payment rates officially take effect for all eligible claimants.
Reeves Meeting
Chancellor meets industry bosses to confirm the 2030 sunset clause.
Reeves Reaffirmation
Chancellor Reeves confirms the commitment to end the windfall tax in talks with industry bosses.
Full List Publication
DWP releases the granular breakdown of all benefit and pension rate changes.
Autumn Statement
Chancellor confirms the percentage increases for the 2026/27 fiscal year.
Inflation Benchmark
September CPI data finalized, setting the floor for benefit uprating.
Labor Policy Shift
The new government raises the EPL to 38% and extends it to 2030.
Labour Government Election
Labour takes office with a pledge to review the energy fiscal regime.
Rate Increase
The levy is increased to 35%, bringing the total tax rate to 75%.
Tax Rate Increase
The EPL was increased to 35%, bringing the total effective tax rate to 75%.
EPL Introduced
Rishi Sunak introduces a 25% windfall tax on oil and gas profits.
EPL Introduced
The original 25% Energy Profits Levy was introduced by the Conservative government.
Chancellor Rachel Reeves has reaffirmed the UK government's commitment to sunsetting the Energy Profits Levy during high-level talks with North Sea oil and gas executives. The move aims to provide the regulatory certainty needed to unlock billions in energy sector investment and secure the UK's domestic energy supply.
Chancellor Rachel Reeves is meeting with North Sea energy executives to reaffirm the government's commitment to ending the Energy Profits Levy by 2030. The move seeks to restore investor confidence following warnings that the current 78% marginal tax rate is driving capital out of the UK.
The Department for Work and Pensions (DWP) has finalized the full schedule of benefit and pension increases taking effect in April 2026. Driven by the Triple Lock and inflation-linked benchmarks, these adjustments represent a multi-billion pound fiscal commitment for the UK government.