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The Guardian - UK

Politics

Alex Lawson Energy correspondent

Energy prices: what is a windfall tax and how would it work?

Boris Johnson North Sea Oil British Petroleum Shell

The Total Culzean platform iin the North Sea, about 45 miles east of the Aberdeen. — Total’s Culzean platform in the North Sea, 45 miles east of Aberdeen. Photograph: Andy Buchanan/AFP/Getty Images

Boris Johnson refused to rule out a windfall tax on Thursday as the clamour for a one-off levy grows. Supporters of a tax on energy giants’ profits argue the funds raised could be used to ease the pressure of rising bills on struggling households. Here’s how it could work:

What is a windfall tax?

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