Rishi Sunak should expand windfall tax on ‘excessive’ oil profits, says Cop26 president

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Rishi Sunak’s government should expand a windfall tax on the “excessive” profits of the oil giants, outgoing climate minister Alok Sharma has said.

The senior Tory – president of the Cop26 summit – urged the new prime minister to go further in taxing the fossil fuel giants, saying current windfall tax was not raising “significant” amounts.