Responding to the news that energy giant Shell has made record-breaking profits of over £68 billion in 2022, Welsh Liberal Democrat Leader Jane Dodds said:
“It is absolutely abhorrent that the Conservative Government has not taken stronger action against companies like Shell who have posted their largest profits in 115 years, profiteering off the Russian invasion of Ukraine.
“While these companies take in obscene profits, everyday families and local businesses are struggling to stay afloat.
“In my own region of Mid and West Wales, we have seen numerous local businesses close their doors due to increased energy costs. These businesses are not only the lifeblood of our cities, towns and villages, but they also provide a huge amount of employment, with Wales more dependent on SMEs than other parts of the UK.
“If the Conservatives implemented a real windfall tax and closed loopholes the extra funding could be used to extend support for these businesses which is due to end in April.
“Rishi Sunak failed to take proper action against energy companies when he was Chancellor, now he is failing again as Prime Minister. The Conservatives must urgently change track and tax the oil and gas companies properly and at the very least ensure that energy bills don’t rise yet again in April.”