Tag Archives: windfall tax

1 November 2022 – today’s press releases

  • BP profits demonstrate utter incompetence of government
  • Hotels for migrants in non-Tory areas is “party first, country last” approach
  • Matt Hancock should lose his MP salary while he’s in the jungle

BP profits demonstrate utter incompetence of government

Responding to the news this morning that BP has announced £7.1bn in underlying profit, Liberal Democrat Treasury Spokesperson Sarah Olney said:

These profits demonstrate the complete and utter incompetence of this Conservative government. As families and pensioners across the country struggle to pay their energy bills, BP are posting unimaginable profits raking off the backs of hard-working people.

Liberal Democrats proposed a strong windfall tax over a year ago, yet the Conservatives have only attempted an incredibly weak version. Clearly, they’ve been too busy with their own chaos to act.

Posted in News and Press releases | Also tagged , , , and | 7 Comments

27 October 2022 – today’s press releases

  • Shell profits: Lack of proper windfall tax an insult to families struggling to pay bills
  • Suella Braverman: Sunak must correct record if he misled Parliament
  • Shell rebate shows government’s windfall tax is failing
  • COP27: Rishi Sunak must not turn his back on progress

Shell profits: Lack of proper windfall tax an insult to families struggling to pay bills

Responding to Shell announcing £8.2bn ($9.5bn) in the third quarter, around double last year’s, Liberal Democrat Leader Ed Davey said:

The Conservative government’s refusal to properly tax these eye-watering profits is an insult to families struggling to pay their energy bills.

Even the CEO of Shell has admitted that oil and gas companies should be taxed more to help protect vulnerable households.

It’s time Rishi Sunak introduced a proper windfall tax and used the extra money to support people facing heart-breaking choices this winter.

Innocent families and pensioners should not be left to pick up the bill for this Conservative government wrecking the economy.

Posted in News and Press releases | Also tagged , , , , , and | 9 Comments

Liberal Democrats table amendment to back-date windfall tax on oil & gas by £3bn

The Liberal Democrats have today tabled an amendment to backdate the government’s delayed windfall tax, raising an extra £3 billion from oil and gas giants to help with the cost of living.

The party is pushing for a vote on the amendment in Parliament today, putting pressure on Conservative MPs to back the move.

After months of calls from opposition parties, the Government announced an emergency levy on the super profits of North Sea oil and gas producers with effect from 26 May 2022.

The Liberal Democrats, who were the first party to call for a windfall tax in October 2021 have tabled …

Posted in News and Press releases | Also tagged | 1 Comment

Ed Davey calls for Windfall Tax on energy companies to help people cope with rising prices

Ed Davey went on BBC Breakfast this morning to call for a windfall tax on energy companies as BP announced soaring profits for the first three months on this year. Funds raised would be used to give people who are struggling with high bills “a really big tax cut.” Ed said that the Conservatives were totally out of touch with what was going on in the country.

Posted in News and Op-eds | Also tagged and | 26 Comments

BP £10bn profits shows windfall tax is about “basic fairness”

Embed from Getty Images

Responding to the news that BP has made £10 billion in the past year following surging oil and gas prices, Liberal Democrat Leader Ed Davey said:

The truth is that this is about basic fairness. It simply cannot be right these energy companies are making super profits whilst people are too scared to turn their radiators on and terrified there will be a cold snap.

The government has said that a windfall tax would harm investment but this is an absolutely bogus argument. These profits

Posted in News | Also tagged | 9 Comments
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