Rachel Reeves responds to BP announcing bumper profits

Rachel Reeves MP, Labour's Shadow Chancellor, responding to BP announcing bumper profits as energy prices rise further, said:

"People are worried sick about energy prices rising again in the autumn, but yet again we see eye-watering profits for oil and gas producers.

"Labour argued for months for a windfall tax on these companies to help bring bills down, but when the Tories finally u-turned they decided to hand billions of pounds back to producers in tax breaks. That is totally wrong.

"It's clear people need greater protection from rising bills. That's why Labour would use this money now to help people get through the winter.

"But we can't carry on like this. Labour would bring down energy bills for good with a green energy sprint for home-grown power, and a 10-year warm homes plan to cut bills for 19 million cold, draughty homes.”