MP, Labour's Shadow Climate Change and Net Zero
Secretary, responding to Shell’s Q1 2022 profits,
said:
“Another day, another oil and gas company making billions in
profits, and yet another day when the Government shamefully
refuses to act with a windfall tax to bring down bills.
“Even the boss of BP has said that this will not impact
investment. The Conservatives have run out of excuses, and been
exposed for the political choice they are making by not acting.
“The truth is that the Government’s priority is protecting oil
and gas giants, not supporting the British people.
“Today voters have a chance to send a message to the Government.
Vote Labour for a party on your side, proposing a windfall tax to
provide real help to families facing the energy bills crisis.”
ENDS
Notes to editors
Shell Q1 2022 Results: https://www.shell.com/media/news-and-media-releases/2022/advance-notice-q1-2022-result.html
Shell made $9.13bn (£7.3bn) in the first three months of the
year, nearly triple its $3.2bn profit it announced for the same
period last year.ls profits have tripled since q1 2021.
https://www.bbc.co.uk/news/business-61330552
On Tuesday 03 May it was confirmed that BP made $6.2bn of
underlying profit in Q1 2022: https://www.bp.com/en/global/corporate/news-and-insights/press-releases/first-quarter-2022-results.html
Leader of the Liberal Democrats said:
“Boris Johnson and Rishi Sunak’s refusal to tax the super
profits of energy companies is completely unforgivable when
people are too terrified to heat their homes.
“The excuses of Conservative ministers have been demolished
by the boss of BP himself, who said a windfall tax wouldn’t
damage investment in the UK.
“This one-off levy would raise billions of pounds that could
help vulnerable families with their energy bills now. It is a
no-brainer.
“Pensioners are having to ride all day in buses to keep warm
while families are forced to choose between eating and heating.
The government cannot wait any longer to act.”
Greenpeace UK’s oil and gas campaigner, Philip Evans,
said:
“A windfall tax on these unexpected record profits of
unimaginable sums would be the fastest and fairest way to ease
pressure on households feeling the pinch and reduce our
dependence on oil and gas, which is the root cause of the cost of
living crisis, while slashing future emissions.
“By using a big chunk of the bloated profits that Shell, BP and
others are raking in to make homes warmer, more energy efficient
and kitted out with heat pumps, the government could start to
really tackle the climate and cost of living crises
simultaneously.
