Hunt rejects Reeves’ call for an expanded windfall tax after BP and Shell announce record profits

At treasury questions today, shadow chancellor Rachel Reeves clashed with chancellor Jeremy Hunt over Labour’s calls for an expanded windfall tax.

Ms Reeves said: “The government are allowing energy companies to make profits that are the windfalls of war whilst ordinary families and businesses pay the price. Isn’t it the case that the Tories can’t solve the cost of living crisis because they are the cost of living crisis?”.

Mr Hunt responded: “Now she can play politics, but we will be responsible because we want lower bills, more investment in transition, and more money for public services like the police”.