Labour responds to Shell posting record profits during the Cost of Living crisis

Ed Miliband MP, Labour's Shadow Climate Change and Net Zero Secretary, responding to Shell posting record profits during the Cost of Living crisis, said:

“As profits soar to record levels for oil and gas producers, we face a serious and worsening energy bills crisis, far worse even than a couple of months ago.  

“Yet at the same time the government is proposing billions in new tax breaks for oil and gas - an obscene decision when families are facing a true cost of living emergency.

“Both candidates for the Tory leadership have shown themselves living on another planet when it comes to the cost of living emergency. Rishi Sunak opposed the windfall tax tooth and nail and has introduced a multi-billion tax break for the oil and gas sector, while Liz Truss appears to believe that the cost of living crisis can be solved by abandoning renewable energy - the cheapest form of power we have.

“The Government is asleep at the wheel. They should start by getting rid of the plan to hand £4bn of public money back to the oil and gas giants making record profits in this crisis and using this money to help families. 

“To bring down energy bills for good, we need Labour’s plan for a green energy sprint for home-grown power, and our 10 year warm homes plan to cut bills for 19 million cold, draughty homes.”