Windfall tax urged following huge BP profits

Profits should help fund nationwide insulation programme
  Published:  03 May 2022    |      1 minute read

Reacting to BP’s huge profit announcement today, Friends of the Earth energy campaigner, Sana Yusuf, said:

“It’s astonishing that companies like BP are allowed to rake in huge profits while people up and down the country are struggling with soaring energy bills.

“Rishi Sunak must introduce a windfall tax, with the money raised invested in a nationwide energy efficiency programme.

“A street-by-street insulation programme - targeting the hardest hit first - would lower bills, help manage energy demand and improve energy security. With profits like this, it would be short-sighted to do anything less.”


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Notes to editors

1. Friends of the Earth is urging the government to fund councils to roll out a street-by-street programme of free loft and wall insulation, starting in neighbourhoods with high fuel poverty. This would not only reduce energy demand, it would cut fuel bills too. Almost 8 million homes could benefit and it could be carried out quickly