Tax every penny of windfall profits oil and gas giants have made since illegal war on Iran, say Greens

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Commenting on the new energy price cap announced today by the Regulator Ofgem, that could see a 13% increase in a typical household’s energy prices, Hannah Spencer, Green MP for Gorton and Denton, said:

“Today’s Ofgem price cap announcement will leave so many people even more stressed out and worried about affording their energy bills. Millions of people are already struggling to make ends meet, and it is unacceptable that energy costs continue to shoot up whilst BP’s profits double. 

“We need immediate government intervention. Rachel Reeves needs to step in and freeze the cap before energy bills go up on July 1st. And if she’s wondering how to pay for it, there are some people doing very well out of this crisis. The government should start by taxing every penny of the huge windfall profits oil and gas giants have made since the start of the illegal war on Iran.

“Our energy market is incredibly unfair, built to line the pockets of shareholders whilst working people foot the bill. It’s a damning indictment of rip off Britain that simply keeping our homes warm enough in winter and cool enough in summer has become a luxury very few people can afford. We need urgent action, now.”

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