Labour responds to news of Shell's Q4 2021 results

Ed Miliband, Shadow Secretary of State for Climate and Net Zero, responding to news of Shell's Q4 2021 results, said: 

“With oil and gas profits booming in recent months because of the spike in energy prices, it is clearer than ever that the North Sea oil and gas producers who have made a fortune recently should be asked to contribute. 

“Labour would keep energy bills low, and we wouldn’t be landing costs with bill payers as they head into a spring of higher taxes and rising prices.

“Our plan, part paid for with a one-off windfall tax on North Sea oil and gas profits, would save most households £200 off their bills, with targeted support of up to £400 on top of that to the squeezed middle, pensioners and the lowest earners.

“Labour will reform our broken energy system so we deliver the green transition we need, energy security, and bills that are affordable.”

Ends 

Notes to Editor

• https://www.shell.com/investors/results-and-reporting/quarterly-results/_jcr_content/par/grid/p0/textimage.stream/1643817920231/fbeb170f95c803e63dcf2659504dc76fca745ae5/q4-2021-quarterly-press-release.pdf