Labour slams BP’s ‘eye-watering’ £7.1bn profit

Labour’s Lucy Powell criticises the government for not implementing a windfall tax on “excess profits” that oil companies “don’t even want”, after BP revealed profits of £7.1bn in the quarter to September 2022. This time last year, the oil giant made a profit of £2.9bn in the same quarter. The shadow culture secretary says: “Every one of us has contributed to these excess profits and the government should be clawing them back in a windfall tax to help support people through the cost-of-living crisis.”.