BP boss can’t say how much it would have paid in windfall tax without ‘loophole’

A BP boss was unable to tell MPs how much the oil and gas giant would have paid in tax had it not been for an investment “loophole” in the government’s windfall levy – despite being asked for the figures in advance.

Matthew Williamson, BP’s UK head of hydrogen, said “I don’t have an answer for that” when quizzed on the levy at a House of Commons select committee.

Rishi Sunak, the then-chancellor, announced in May that he would impose a windfall tax on energy companies to help fund financial support for people struggling to pay their bills amid the cost of living crisis.