Prime Minister's question asked in the House of Commons, by Robert N Wareing (Independent (affiliation)). It was answered on Wednesday, 29 October 2008 on behalf of the Prime Minister.

Engagements

Question: Is the Prime Minister aware that, between July and September this year, the BP oil company made a profit of £6.4 billion? When many pensioners and poor, vulnerable people in my constituency are suffering and wondering how they are going to pay to heat their homes this winter, is it not about time that the Government introduced a windfall tax on companies such as BP?

Answer: We have applied a levy to the utility companies to enable us to spend more on heating for pensioners and others in the winter months. The fact is that oil prices are coming down. Oil is now $60 a barrel, whereas it used to be $150, and it is important that those price cuts are passed on to all customers. We cannot take the advice of the shadow Chancellor on this matter. He resurfaced—or tried to resurface—with a statement that the price of petrol should go down, yet his fuel duty stabiliser would mean that the price of petrol would now automatically go up by 5p a litre—[Interruption.] He cannot deny it. That is why people doubt the judgment of the Conservative party.

Secondary information