Should oil and gas companies pay more tax?

Some people think they should be fairer with their profits.

The idea that energy companies should pay more tax has been in the news a lot recently. Extra money raised by the Government in tax could be used to help pay people’s energy bills, making life easier for millions in the UK. It could also mean more money for services like hospitals, libraries and schools. This month, the UK Government announced an increase to a “windfall tax” on energy companies, which will raise around £14 billion, but it could charge more. BP, an energy company that made £10 billion in profit last year, said it has “more cash than we know what to do with”. Ben van Beurden, the head of energy company Shell, said he thinks taxes should be raised to help people who can’t pay their bills. What…

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The Week Junior (Digital) - 1 Issue, 364

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