Windfall Tax On Oil And Gas Producers

EDM number 504 in 2004-05, proposed by Alan Simpson on 13/01/2005.

That this House notes that oil and gas producers will derive massively inflated profits, estimated at an additional ú5 billion per year, as a result of unprecedentedly high oil prices; expresses its concern over the impact of both past and future domestic energy price increases on households who struggle to pay for the fuel they need to maintain a warm and healthy indoor environment; recognises that many of the households worst affected by high fuel prices will be elderly, on a low fixed income and living in properties that are inadequately heated and insulated; advocates that funding for an energy efficiency programme to assist these householders should be provided by a tax on the windfall profits accruing to members of the UK Offshore Operators Association as a result of hyper-inflated gas and oil prices; and urges the Chancellor of the Exchequer to take immediate action.

This motion has been signed by a total of 39 MPs.