Well have to look at it Boris Johnson hints at U-turn on windfall tax

Boris Johnson gets grilled by Nick Ferrari on windfall taxes

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PM Boris Johnson repeatedly rejected a windfall tax on energy giants as believing energy companies need to invest in new technologies that might be able to boost energy security and tackle the current energy crisis. In light of the updates, LBC presenter Nick Ferrari pointed out that company bosses had said that a windfall tax “won’t deter companies on investing” but Mr Johnson replied saying the government “will need to look at it”. “I don’t like them and they’re not the right way forward”, reiterated the PM when questioned about his stance on windfall taxes.

Mr Ferrari asked: “Are you ruling our windfall taxes?”

PM Boris Johnson responded: “The disadvantage with those sort of taxes is that they deter investment in the very things that we need to see them putting them in.

“[Companies] need to be investing in new technology, in new energy supplies for the UK.”

Mr Ferrari hit back: “But the bosses say it won’t deter them on investing, Prime Minister.”

Mr Johnson said: “Well then we’ll have to look at it.

“What I say is I want them to make those investments.

“They’ve got to be making those investments in new energy supply for our country.”

Mr Johnson compared the types of energy used in the UK to Finland and Sweden and said: “Here we are in Finland, we’ve just been in Sweden, those guys have done brilliantly.

“They’ve got nuclear power in Sweden in a way that we don’t have in the UK.

“They’ve got hydro.

“They’ve got all sorts of resilience that we don’t have.

“We’ve got to build in that resilience.”

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Mr Ferrari reiterated: “Are you ruling them out?

Mr Johnson firmly said: “I don’t like them.

“I don’t think they’re the right way forward.

“I want those companies to make big, big investments”.

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