Boris Johnson claims that he won't impose a windfall tax on oil and gas's massive profits because they are going to 'invest' in the country, but BP has said that 60% of its earning are going to share buybacks.
, “what that means is that you discourage them from making the investments that we want to see that will, in the end, keep energy prices lower for everybody.”
The “government claims that the massive profits windfall is going to investment,” Miliband tweeted. “BP tells us in black and white that’s wrong — they say 60% is going to share buybacks.” Green MP for Brighton Pavilion Caroline Lucas similarly criticized Johnson’s rejection of a windfall tax. Lucas added that the government’s “refusal to levy a windfall tax on obscene profits and support those with huge energy bills shows whose side they’re on — it’s grotesque.”“It’s astonishing,” said FOE energy campaigner Sana Yusuf, “that companies like BP are allowed to rake in huge profits while people up and down the country are struggling with soaring energy bills.”
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