Boris Johnson has ruled out imposing a windfall tax on the bumper profits made by oil companies to tackle the cost of living crisis.
The Prime Minister’s spokesman dismissed fresh calls for a one-off levy after BP announced it had made a £9.5 billion profit in 2021.
Labour and the Lib Dems, as well as some Conservative MPs, back a one-off windfall tax on the profits made by the rise in wholesale energy prices to help offset the steeply rising domestic bills expected this year.
