Apply an ‘excess profits’ tax on oil and gas companies

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Apply an ‘excess profits’ tax on oil and gas companies

Petition Details

We want the government to tax ALL excess profits made by oil and gas firms in the UK in 2022 and 2023. Oil and gas company profits have been higher this year when compared to an average of their profits over the previous 3 years: 2019, 2020 & 2021.

Additional Information

These profits are not a result of increased productivity and excellence in their field of work. There was a supply side shock to the market and the oil and gas companies profited from the unusual shortage of supply.

We also ask the Government to give the money collected by this tax directly to UK tax payers.

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