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Centrica chief Chris O’Shea also questioned whether energy producers, who have benefitted from the surge in wholesale prices, should face a windfall tax.
The Labour party have proposed a £1.2bn levy on North Sea oil and gas producers, as part of a package to help households and businesses with soaring bills.
If their profits are higher, they’ll be paying more tax. That will go into the government coffers. So there will be a tax windfall for this.
If your reaction to anything is to suddenly change the tax regime, then the only question I would say is, is that consistent with a long-term stable investment framework.
Is that consistent with a long-term stable solution, because that’s what need to ensure this never happens again.
