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

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 have come out of nowhere, no energy company was expecting them, no investor was either.

"A windfall tax is the best way to get money to the people who need it quickly, but also to make sure there is some sense of trust and proportionality in the system."

Liberal Democrat South West Wiltshire spokesperson Ellen Nicholson said "people are worried, many have no idea how they will cope with rising bills and are already doing all they can to cut costs. How can it be right that energy companies have huge profits whilst many across Wiltshire struggle to cope with soaring bills.

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