Rolling coverage of the latest economic and financial news
- BP made underyling profits of $6.2bn (£5bn) in last quarter
- BP announces new $2.5bn share buyback…and $25.5bn charge for exiting Russia
- BP: We’ll invest £18bn by 2030
- High energy prices leave oil giants untroubled by Russia exit or tax hints
- ‘I can’t see it getting any better’: could the UK be heading for a recession?
- EU claims Apple breaking competition law over contactless payments
- EU comes to the crunch over Russia’s demands to pay roubles for gas
British prime minister Boris Johnson has rejected the latest calls for a windfall tax on companies such as BP.
Interviewed on ITV, Johnson argues that a windfall tax on energy companies would hamper investment — leading to higher oil prices in the longer term
“If you put a windfall tax on the energy companies, what that means is that you discourage them from making the investments that we want to see that will, in the end, keep energy prices lower for everybody”
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