PROFITS OF OIL COMPANIES

Early day motion 338, tabled 13 February 2001 by Lindsay Hoyle (Labour). Signed by 44 members.

That this House notes the record profits generated by oil companies to be announced in the latest accounts - as much as ú350 per second; notes further that this is in the face of continuing public disquiet at the retail cost of petrol and requests by the Government that Shell and other oil companies reduce the price of petrol and diesel to the motorist; further notes that the Government has already played its part by reducing duty on petrol and diesel; and calls upon the Government to levy a windfall tax on the oil companies and to use the proceeds to reduce further the retail cost of petrol and diesel in the United Kingdom.

Signatures by party: Labour 39, Labour/Co-operative 3, Liberal Democrat 2.