Shell profits: Windfall tax could help fund insulation programme

Reacting to the bumper profits announced today by Shell, Friends of the Earth campaigner Connor Schwartz, said:

“While giant fossil fuel firms like Shell post massive profits, millions of people are struggling with sky-rocketing energy bills and living in heat leaking homes.

“A tax on these excess profits could help pay for a nationwide free insulation programme, rolled out street-by-street, focussing on those most in need first. 

“There’s no time to waste. The quickest way to bring down energy bills for good is to insulate our homes and invest in cheap and reliable renewable power. And it starts with a windfall tax on fossil fuel companies.”

ENDS

Notes to editors

1. Friends of the Earth is urging the government to fund councils to roll out a street-by-street programme of free loft and wall insulation, starting in neighbourhoods with high fuel poverty. This would not only reduce energy demand, it would cut fuel bills too. Almost 8 million homes could benefit and it could be carried out quickly