Part of Prime Minister – in the House of Commons on 9th March 2022.

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Photo of Keir Starmer Keir Starmer Leader of HM Official Opposition, Leader of the Labour Party

We will see how long that position lasts. Let me try to help the Prime Minister by coming at this from a different angle. Before Russia invaded Ukraine, North sea oil and gas companies were making bumper profits. BP made £9.5 billion, Shell made £14 billion—in their own words,

“more cash than we know what to do with.”

Since then, the international price of oil and gas has skyrocketed, and so will their profits. When will the Prime Minister admit he has got this badly wrong, put a windfall tax on those super-profits, and use the money to cut household energy bills?