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This petition was submitted during the 2019 to 2024 Parliament

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Closed Apply an ‘excess profits’ tax on oil and gas companies

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We want the government to tax ALL excess profits made by oil and gas firms in the UK in 2022 and 2023. Oil and gas company profits have been higher this year when compared to an average of their profits over the previous 3 years: 2019, 2020 & 2021.

These profits are not a result of increased productivity and excellence in their field of work. There was a supply side shock to the market and the oil and gas companies profited from the unusual shortage of supply.

We also ask the Government to give the money collected by this tax directly to UK tax payers.

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    If this petition gets 10,000 signatures, government will respond to it.

    If this petition gets 100,000 signatures, it will be considered for debate in Parliament.

    This petition will stay open until 30 March 2023.