Sinn Féin MLA Conor Murphy has called for an increased windfall tax to be charged on energy giants like British Petroleum (BP) whose profits have doubled in the last year to £23 billion.
The party’s economy spokesperson said action must be taken to end the energy rip-off and put money in people’s pockets.
Conor Murphy said:
“Energy giants like BP and Shell must be charged a much higher windfall tax on the tens of billions of pounds they have made over the last year.
“These companies are disgracefully profiteering off the backs of struggling workers and families.
“The time for hand-wringing and simply blaming the war in Ukraine for energy price hikes is over; action is needed to put money back in the pockets of ordinary people rather than the Tory government allowing energy giants to line the pockets of its shareholders.
“To add further insult to injury BP is scaling back its commitment to cut its carbon emissions and its investment in helping people to move towards renewable energy sources.
“A change in direction is needed from the British government, instead of imposing austerity budgets and tax breaks for banks, they need to increase taxes on these greedy corporations, invest in public services and ensure public sector workers get a fair pay rise.”