Viaro Energy Strategy, page-124

Hi @Mitchdon I thought I would rewrite the earlier post because of some errors:
Here is a link to the fiscal regime that may help:
https://assets.publishing.service.g...000d6a8e4d/CfE_Final_Version_110723__003_.pdf

In essence, the Labour Party intends to abolish the investment allowance which is 29% of a 35% EPL, so that’s 10.15% off the 91.4% total tax allowance currently claimable by companies This abolition will then bring the total rebate back to 81.25 from 91.4%.

However, since the government is also increasing the EPL to 38%, the 91.4% total rebate goes up to 94.4%. So under the new policy, the investment allowance that will be abolished, amounts to 11.02% bringing the new total claimable rebate back to 83.38%.

83.38% is pretty close to Norway's 85% vs a tax levy of 78% , so you can see where the government is going with this.

That’s all we know for now. As to what they do with capital allowances is anyone’s guess but I think they are unlikely to touch those at this stage, but keep a threat of reducing them if they deem bad behaviour has occurred… typically vague noises from this government.
cheers