Labour frontbencher criticises 'grotesque' Shell profits

Stephen Kinnock has called for an extension of the windfall tax on energy giants after Shell reported a record £32bn in profits for last year.

The Shadow Immigration minister says the "grotesque profits" of oil and gas companies stand in contrast to striking workers who "just want a fair share".

He told Sky News: "These are the windfalls of war as a direct result of Putin's barbaric invasion of Ukraine.The oil and gas companies are laughing all the way to the bank and that cannot be allowed to continue.

"So we're not talking about taxing the basic bottom line of these companies - we're taxing the excess profits that have been made as a direct result of the war.

"And they should be one-off taxes, which should only be in place until such time as the war is finished, which we really hope will be as soon as possible."

Read the latest here: https://news.sky.com/story/households-cutting-energy-usage-to-avoid-blackouts-likely-how-well-all-operate-in-future-national-grid-12800828

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