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| Version 2 | Version 3 |
|---|---|
| Ministers 'consider' windfall tax | Ministers 'consider' windfall tax |
| (10 minutes later) | |
| The government is considering imposing a windfall tax on energy companies amid public anger at record increases in fuel costs. | The government is considering imposing a windfall tax on energy companies amid public anger at record increases in fuel costs. |
| The cash generated would be used to help poorer families who will struggle to pay their bills this winter. | The cash generated would be used to help poorer families who will struggle to pay their bills this winter. |
| Business Secretary John Hutton told the BBC that ministers were "looking at" all options. | Business Secretary John Hutton told the BBC that ministers were "looking at" all options. |
| The "big three" energy firms, Shell, BP and British Gas, have all recently announced multi-million-pound profits. | The "big three" energy firms, Shell, BP and British Gas, have all recently announced multi-million-pound profits. |
| 'Actively considered' | 'Actively considered' |
| But CBI director Richard Lambert said a windfall tax would ultimately be bad for consumers. | But CBI director Richard Lambert said a windfall tax would ultimately be bad for consumers. |
| BBC political correspondent Iain Watson said such a move was not expected "imminently" but it was "something being actively considered". | BBC political correspondent Iain Watson said such a move was not expected "imminently" but it was "something being actively considered". |
| FROM THE TODAY PROGRAMME More from Today programme | FROM THE TODAY PROGRAMME More from Today programme |
| Mr Hutton told BBC Radio 4's Today programme that tax policy was the domain of Chancellor Alistair Darling, who would have to "weigh up some very important considerations". | Mr Hutton told BBC Radio 4's Today programme that tax policy was the domain of Chancellor Alistair Darling, who would have to "weigh up some very important considerations". |
| He said: "We've got to encourage very significant investment into our power generation system over the next 10 to 15 years. | He said: "We've got to encourage very significant investment into our power generation system over the next 10 to 15 years. |
| "We've got to have a fiscal and a regulatory climate that encourages all of that investment because, quite simply, it will go elsewhere if there's not confidence in the UK market. | "We've got to have a fiscal and a regulatory climate that encourages all of that investment because, quite simply, it will go elsewhere if there's not confidence in the UK market. |
| "But the chancellor has to make these calls - very difficult calls - and he has my full support in looking at all of these issues." | "But the chancellor has to make these calls - very difficult calls - and he has my full support in looking at all of these issues." |
| Shell has announced a £4bn profit for April to June - up 4.6% on the same period last year. | Shell has announced a £4bn profit for April to June - up 4.6% on the same period last year. |
| Centrica, which owns British Gas, said it had made £992m in the first half of the year. | Centrica, which owns British Gas, said it had made £992m in the first half of the year. |
| This represented a fall of 20%, but came a day after it had announced a 35% price increase for British Gas customers. | This represented a fall of 20%, but came a day after it had announced a 35% price increase for British Gas customers. |
| Earlier in the week, BP said it had made £3.4bn in the same period - a rise of 6%. | Earlier in the week, BP said it had made £3.4bn in the same period - a rise of 6%. |
| In May, Treasury Minister Lord Davies said: "There are no current plans to introduce a windfall tax on oil companies." | |
| The government imposed a windfall tax on the profits of recently privatised utility companies in 1997, as this had been one of Labour's general election commitments. | |
| There was no such pledge in the party's 2005 manifesto. |