Rishi Sunak is considering plans to expand the windfall tax on energy companies to help plug the multi-billion-pound hole in the country’s finances, it has been reported.
Climate activists and opposition MPs have been urging the new prime minister to go further as oil and gas giants continue to see their profits soar.
He and Jeremy Hunt are understood to be mulling an expansion of the levy that would see it potentially increased or widened to included renewable energy generators, the Telegraph reports.
Downing Street said ‘nothing is off the table’ ahead of the Chancellor’s autumn budget on November 17.
It comes after Shell avoided paying the levy despite a doubling of profits fuelled by soaring energy prices.