Labour frontbencher criticises ‘grotesque’ Shell profits

Stephen Kinnock has called for an extension of the windfall tax on energy giants after Shell reported a record £32bn in profits for last year.

The Shadow Immigration minister says the "grotesque profits" of oil and gas companies stand in contrast to striking workers who "just want a fair share".

He told Sky News: "These are the windfalls of war as a direct result of Putin’s barbaric invasion of Ukraine.The oil and gas companies are laughing all the way to the bank and that cannot be allowed to continue.

"So we’re not talking about taxing the basic bottom line of these companies – we’re taxing the excess profits that have been made as a direct result of the war.

"And they should be one-off taxes, which should only be in place until such time as the war is finished, which we really hope will be as soon as possible."

Read the latest here:

#skynews #windfalltax #shell

SUBSCRIBE to our YouTube channel for more videos:

Follow us on Twitter:
Like us on Facebook:
Follow us on Instagram:
Follow us on TikTok:

For more content go to and download our apps:

Sky News videos are now available in Spanish here/Los video de Sky News están disponibles en español aquí:

Sky News videos are also available in German here/Hier können Sie außerdem Sky News-Videos auf Deutsch finden:

To enquire about licensing Sky News content, you can find more information here: