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Boris Johnson refuses to rule out windfall tax on energy giants

By Adam Forrest
PA Wire

Boris Johnson has refused to rule out a windfall tax on the profits of fossil fuel companies to help relieve some of the pressure on families during the cost of living crisis.

Chancellor Rishi Sunak has reportedly told Treasury officials to examine plans for a levy on the soaring profits of the oil and gas giants, putting the move “back on the table”.

It follows an admission by BP chief executive Bernard Looney, who said his firm’s investment plans would not be affected by a windfall tax.

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Dive Deeper:
Boris Johnson says windfall tax ‘not the right thing’ but refuses to rule out U-turn
The prime minister claimed ‘these kinds of taxes’ deterred investment, contrary to BP boss saying it would not
Boris Johnson hints at windfall tax on oil and gas giants - 'we'll have to look at it'
Brits are being clobbered by rising energy bills while firms rake in huge earnings - with senior Tory MP Robert…
Boris Johnson wavering on opposition to windfall tax amid backlash
BORIS Johnson has signalled he could cave in to opposition demands for a windfall tax on energy companies to help…
Tesco chairman John Allan backs windfall tax on energy giants to tackle cost of living crisis
John Allan, chairman of Tesco and Barratt Developments, said the case for a one-off tax on energy company profits was…
One subscription that gives you access to news from hundreds of sites
Boris Johnson resists calls for windfall tax amid warnings of £1,000 hike in energy bills
ScottishPower boss says current support ‘nowhere near enough’ to cushion blow for households
The Observer view on the urgent need for a windfall tax on the energy giants
Even bosses of Britain’s oil and gas companies admit they hardly know what to do with record-breaking profits
Get all your news in one place