As energy bills — and fossil fuel profits — continue to soar, demonstrators demanded immediate action from PM Rishi Sunak.
Hours after lawmakers from the ruling Conservative Party voted in late-October to make Rishi Sunak the U.K.’s third prime minister this year, Greenpeace activiststhe lobby of Parliament and called for simultaneously tackling surging utility bills and the climate emergency by taxing fossil fuel profits and using the revenue to bankroll residential upgrades and expanded clean energy production.
A 25% windfall tax on oil and gas producers approved in July is expected to raise £5 billion in its first year. However, the existing surtax on excess fossil fuel profits includes loopholes enabling companies to significantly reduce their tax bill by investing more in oil and gas extraction, which the industry claims will increase supply.
Shift to renewable energy, like wind and solar, which are cheaper and quicker to build than oil and gas; and
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