Record Shell profits on back of trapped customers

The DUP’s Upper Bann MP Carla Lockhart and DUP Economy spokesman Jonathan Buckley have said the Shell record breaking annual profits, the highest in 115 years, is further evidence that the Government should shelve any plans of increasing fuel duty in March and instead place a further levy on the energy giants.

By Jonathan Buckley Candidate

Upper Bann

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Economy spokesman Jonathan Buckley said,

“Small businesses are being crippled with soaring energy bills. Government intervention has been a lifeline and our membership of the UK has once again been a salvation for many business owners, but we need a better long-term plan on energy.

The record profits of the energy giants points to the need for His Majesty’s Treasury to step up the levies on the oil and gas tycoons and give our businesses a break. From the farmers automating their industry to the heavy manufacturer and small hospitality business, all are living in dread of their energy bills.”

Carla Lockhart said:

“Most people driving into the forecourt at the local Shell filling station and paying around 165.9p per litre for diesel, will react to the news that the company has reported their highest ever profits with a degree of fury.

Whilst the company only derives around 5% of its revenue from the UK, it is clear the supply chain is lining the pockets of the big oil companies.

In April, we will see household energy bills rising again, whilst energy firms enjoy record profits. The Chancellor must shelve any plans for a 12p increase in fuel duty, whilst energy firms profiteer at the pump. Such a move is totally unacceptable.

This news should spur the Government to not just look at inequity in the supply chain, but also the rate of the windfall tax. Consumers deserve a fair deal.”

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