Eastwood urges UK Government to hike windfall taxes on energy giants raking in profits ​

Alliance MP Sorcha Eastwood has urged the UK Government to urgently hike windfall taxes on energy giants, stating that oil giants are raking in mega profits whilst hardworking families suffer.

Sorcha Eastwood Energy

The Lagan Valley MP was speaking after it was reported that oil giant BP announced that its profits for the first three months of the year have more than doubled due to the surge in oil prices since the start of the Iran war. 

Ms Eastwood has said: “Fuel and oil giants are raking in mega profits from the soaring oil prices caused by the war in Iran.

“While these companies brag of their exceptional results, hardworking families in Northern Ireland continue to suffer. People living here have faced the fastest-rising car fuel prices in the UK, among the highest in Europe, and many are sitting in cold homes because they can’t afford to turn the heating on.

“Before Trump's illegal war in Iran spiked energy costs dramatically, Northern Ireland already had the highest rate of fuel poverty in the UK.

“We need to see immediate action from the UK Government to ease this pressure, and that’s why Alliance is calling for a hike in windfall taxes on energy giants. 

“We can’t sit by and watch while oil fat cats continue to line their pockets and ordinary families struggle to make ends meet.”