Oil and gas companies should face a windfall tax to keep down consumers’ heating bills, says report from leftwing thinktank
Oil and gas companies have handed shareholders almost £200bn since 2010 and should be hit with a windfall tax to cap heating bills that are set to rise by as much as £500 a year, according to a report on the finances of the UK’s energy sector.
Shell and BP are among companies that have seen their profits boosted in the last year as wholesale gas prices rose by as much as nine times and petrol prices jumped to record highs, leading to calls for them to help limit a £20bn bill faced by UK households.
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