Responding to the news that the government will suspend the windfall tax on oil and gas companies if the price of oil and gas falls to historically normal levels for ‘a sustained period’, Greenpeace UK’s climate campaigner, Georgia Whitaker, said:
“The government’s windfall tax on oil and gas companies already contains more loopholes than a block of swiss cheese. And now they want to scrap it altogether.
“Even with the ‘windfall tax’ in place, these companies made record profits worth tens of billions of pounds over the past year, while many of us struggled to make ends meet.
“The UK has some of the lowest oil and gas tax rates in the world. Irrespective of what happens to the price of oil and gas, the tax these companies pay should be higher, permanently.
“This cash should be used to help insulate homes and transition the UK to cheap, clean energy, not fill the bank balances of already wealthy shareholders.”
