On a point of order, Madam Deputy Speaker. I apologise for interrupting the business and the 10-minute rule Bill from my hon. Friend the Member for Bolsover (Mark Fletcher). During Prime Minister’s questions, the Leader of the Opposition claimed that Shell had not paid any taxes through the Government’s oil...

On a point of order, Madam Deputy Speaker. I apologise for interrupting the business and the 10-minute rule Bill from my hon. Friend the Member for Bolsover (Mark Fletcher). During Prime Minister’s questions, the Leader of the Opposition claimed that Shell had not paid any taxes through the Government’s oil...

The problem is that the Prime Minister could not stand up to a run-of-the-mill bully, so he has no chance of standing up to vested interests on behalf of working people. Take Shell, which made record profits this year of £26 billion. How much has it paid under his so-called windfall tax?

The problem is that the Prime Minister could not stand up to a run-of-the-mill bully, so he has no chance of standing up to vested interests on behalf of working people. Take Shell, which made record profits this year of £26 billion. How much has it paid under his so-called windfall tax?

I was the Chancellor who introduced an extra tax on the oil and gas companies. The right hon. and learned Gentleman talks about working people, but he voted against legislation to stop strikes disrupting working people, and he voted against legislation to stop extremist protesters disrupting working people, because he is not on the side of working people; that is what the Conservatives are for.

I was the Chancellor who introduced an extra tax on the oil and gas companies. The right hon. and learned Gentleman talks about working people, but he voted against legislation to stop strikes disrupting working people, and he voted against legislation to stop extremist protesters disrupting working people, because he is not on the side of working people; that is what the Conservatives are for.

I welcome the Minister to her new role. As we all know, Shell is making windfall profits—more than double those last year. Despite that, it is not paying a penny of the UK’s windfall tax, because of a get-out clause that obscenely incentivises new oil and gas extraction in the UK. Given that we know that drilling for more fossil fuels is incompatible with the target of 1.5°C to avert climate catastrophe, will the Government now remove that loophole?

I welcome the Minister to her new role. As we all know, Shell is making windfall profits—more than double those last year. Despite that, it is not paying a penny of the UK’s windfall tax, because of a get-out clause that obscenely incentivises new oil and gas extraction in the UK. Given that we know that drilling for more fossil fuels is incompatible with the target of 1.5°C to avert climate catastrophe, will the Government now remove that loophole?

All matters of tax are for His Majesty’s Treasury, but it is clear that all our formerly fossil fuel companies are indeed energy companies, and they are investing incredibly heavily across the piece in renewables as well. We will continue to work with them to ensure that they invest their profits wisely.

All matters of tax are for His Majesty’s Treasury, but it is clear that all our formerly fossil fuel companies are indeed energy companies, and they are investing incredibly heavily across the piece in renewables as well. We will continue to work with them to ensure that they invest their profits wisely.

I have said repeatedly that it is absurd to suggest that bringing in gas from abroad, for instance, with higher emissions attached to that and paying billions of pounds for it, is sensible when we can produce it at home. That is why we incentivise investment in the North sea. It is declining, it is a managed decline, and it is compatible with net zero. It is about time that the hon. Lady backed the British economy and British jobs, and did not play politics with this issue.

I have said repeatedly that it is absurd to suggest that bringing in gas from abroad, for instance, with higher emissions attached to that and paying billions of pounds for it, is sensible when we can produce it at home. That is why we incentivise investment in the North sea. It is declining, it is a managed decline, and it is compatible with net zero. It is about time that the hon. Lady backed the British economy and British jobs, and did not play politics with this issue.

Shell and BP have announced bumper profits while they have also benefited from a loophole put in place by the now Prime Minister which means they secure taxpayer support for drilling oil in our North sea. Does the Minister think that that is a good decision or a bad decision ahead of the COP27 summit?

Shell and BP have announced bumper profits while they have also benefited from a loophole put in place by the now Prime Minister which means they secure taxpayer support for drilling oil in our North sea. Does the Minister think that that is a good decision or a bad decision ahead of the COP27 summit?

To ask the Chancellor of the Exchequer, with reference to the $9.5 billion quarter three profits reported by Shell and reported comments from that company’s CEO that it is ready for further windfall taxation, if he will make an assessment of the potential merits increasing the Energy Profits Levy.

To ask the Chancellor of the Exchequer, with reference to the $9.5 billion quarter three profits reported by Shell and reported comments from that company’s CEO that it is ready for further windfall taxation, if he will make an assessment of the potential merits increasing the Energy Profits Levy.

Thank you, Madam Deputy Speaker.

The annual profits of oil giant Shell were £12 billion. BP’s profits were £9.5 billion. The company’s boss said that his pay had more than doubled to just under £5 million, and then the company complained that it is

“getting more cash than we know what to...

Thank you, Madam Deputy Speaker.

The annual profits of oil giant Shell were £12 billion. BP’s profits were £9.5 billion. The company’s boss said that his pay had more than doubled to just under £5 million, and then the company complained that it is

“getting more cash than we know what to...

It is a pleasure to rise to speak in this debate, and to be the last Member on the Conservative Benches to do so, because it has given me the opportunity to listen to the entire debate, and what an interesting debate it has been.

We have heard that the Liberal...

It is a pleasure to rise to speak in this debate, and to be the last Member on the Conservative Benches to do so, because it has given me the opportunity to listen to the entire debate, and what an interesting debate it has been.

We have heard that the Liberal...