The forecast for tax expenditure on natural gas for fossil fuel production in the UK indicates a steady increase from 2024 to 2028. Starting at $2.88 billion in 2024, the value consistently grows to reach $3.21 billion by 2028. This suggests a year-on-year growth rate of approximately 3% annually.
Key trends to watch for in the future include the impact of policy changes directed toward reducing fossil fuel reliance and promoting sustainable energy sources. Additionally, fluctuations in global natural gas prices and geopolitical events could significantly influence future tax expenditures in this sector.
