Johnson does not exclude storm tax on energy giants

Britain’s Prime Minister Boris Johnson said Wednesday that he didn’t like the idea of ​​imposing a storm tax on the profits of energy companies, but couldn’t rule it out.

The Conservative government has so far resisted Labor’s call to impose a one-time storm tax on North Sea oil and gas producers. To help fund cash support for households working on soaring bills.

Mr Johnson was asked on Wednesday whether to deny the idea and reiterated the government’s claim that such taxes would discourage investment.

“The disadvantage of these types of taxes is that they discourage investment in the very things they need to see them out. Johnson said during his trip to Sweden and Finland, Helsinki Airport. Told LBC to sign security agreements with Scandinavian countries outside.

Johnson disputed the fact that BP’s CEO said the storm tax wouldn’t affect his company’s existing investment plans, saying “then we need to consider it.”

The prime minister was once again pressured on whether to eliminate taxes, saying, “I don’t like them, I don’t think they’re right. I don’t think they’re the right way. I want those companies to make large investments. “

On May 4, BP CEO Bernard Looney plans to invest £ 18 billion ($ 22 billion) in the UK until 2030 on oil and gas, wind and electric vehicle charging in The Times of London. He said he would not cancel some of the. Networks and other projects.

Rooney said the company “supports the UK” and will not cancel these plans in the event of a storm tax.

On Tuesday, Johnson told Congress that the government would continue to support families with rising living costs, but instead of getting out of the crisis, it plans to stimulate UK economic growth to overcome the crisis. There is.

In an interview with LBC, Johnson showed that instead of waiting for a budget in the fall, there is additional support in the summer.

“We plan to add more in the future, such as July,” he said.

“But what we do is use all the ingenuity and compassion we have, and the financial firepower we have as a result of the strong economic growth we have emerged from the pandemic. is.”

“Growth will return very strongly in the next few years,” the Prime Minister said in the UK.

His comments follow the government’s first meeting of the Living Expenses Committee this week, where he instructed the minister to submit suggestions to ease pressure on households.

In a statement prior to the Cabinet meeting, Downing Street said the government “will continue to consider what we can do to ease pressure on hard-working people and their families” over the “next few months.” Stated.

Households are facing rising energy prices, inflation is projected to reach 10%, and welfare payments and wages are far behind rising prices.

Downing Street said the prime minister would take advantage of Thursday’s holidays to “gather ministers, realize national priorities, and benefit from the Queen’s speech.”

Apart from the Council of Ministers, the Minister will visit communities and businesses in western England, Midlands and Wales.

PA Media contributed to this report.

Lily Chow


Lily Zhou is a freelance writer who mainly covers the British news of The Epoch Times.