Bumper profits from energy firms have led to calls for them to pay more tax, as households face high bills.
BP profits topped £4 billion in the first three months of this year alone. The gas and oil giant reported record annual profits last year as the company – along with the rest of the energy sector – benefited from the surge in oil and gas prices following Russia’s invasion of Ukraine.
Labour leader Sir Keir Starmer said, “Of course we want BP and others to make profits so they can invest but these are profits that they didn’t expect to make, these are profits that are over and above because the world price of energy is so high”.
BP boss Bernard Looney saw his pay double last year to £10 million.
The Homeland Party rejects a capitalist system which sees multinationals like BP make excessive profits during an energy crisis. We feel confident in saying that the average person rolls their eyes when they see the amount of tax these corporations pay and would rather see £150 a month less on their energy bills.
