BP and Shell signal commitment to UK investment - weakening government case against windfall tax

Ed Miliband tells Saphora Smith that arguments against such a move are being exposed as ‘total nonsense’

The two energy giants have said they have a ‘strong commitment’ to investing in the UK (AFP via Getty Images)

BP and Shell have indicated they are committed to investing billions in Britain’s renewable energy despite calls for a windfall tax on their bumper profits — weakening the government’s claims that a levy could deter future funding.

After Shell reported nearly £7.3bn in first-quarter profits, chief executive Ben van Beurden said the company has a “very strong commitment” to investing in the UK if it makes “economic sense”.

Ed Miliband, Labour’s shadow climate change secretary, said it proved the government’s arguments against a windfall tax are “total nonsense”.