UK should explore extending oil and gas windfall tax - COP26 president Sharma

COP26 President Alok Sharma walks outside Number 10 Downing Street in London

LONDON (Reuters) - The British president of the COP26 climate summit Alok Sharma said on Friday that Prime Minister Rishi Sunak's government should explore extending a windfall tax on oil and gas firms in a fiscal statement next month.

"These are excessive profits, and they have to be treated in the appropriate way when it comes to taxation," Sharma, who was president of the summit held in Glasgow a year ago but lost his cabinet post in Sunak's new government, told the Guardian newspaper.

"We ought to be going further and seeing what more can be done in terms of raising additional finance (from the profits). So far, at least, the level of money raised is obviously not significant."

(Reporting by Alistair Smout; Editing by William Schomberg)