Energy

UK rejects fresh calls for a windfall tax on oil and gas profits

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A logo at a Shell Recharge electric vehicle charging hub, operated by Royal Dutch Shell Plc, after re-opening to the public following a replacement of petrol and diesel pumps, in London, U.K., on Thursday, Jan. 13, 2022.

Chris Ratcliffe | Bloomberg | Getty Images

LONDON — Britain’s Finance Minister Rishi Sunak has rejected fresh calls for a one-off tax on North Sea oil and gas profits despite millions of households facing a record-breaking increase to energy bills and as oil giant Shell reports bumper annual earnings.

U.K. lawmakers from across the political spectrum have renewed calls on the government to impose a windfall tax on oil and gas to help fund a national package of support…



Source cnbc.com

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