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Business Matters: Calls for energy windfall tax grow as BP profits soar

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04/05/2022 GMT

Calls for energy windfall tax grow as BP profits soar

BBC World Service - Business Matters, Calls for energy windfall tax grow as BP profits soar

This charge targets firms that benefit from something they were not responsible for

This type of charge targets firms that are lucky enough to benefit from something they were not responsible for.

Oil giant BP booked bumper underlying profits despite a big loss on its exit from Russia. We explore whether oil firms are likely to face windfall taxes on their profits, after Italy increased such a tax, with Dr Sandy Hager, a political economist at City, University of London. Leaked documents in the US have suggested the Supreme Court could be heading towards revoking the historic Roe vs Wade judgement from the 1970s that legalised abortion in the country. Just prior to that news and the political outcry that's followed, Amazon has more quietly told staff it would contribute up to $4,000 in travel expenses for employees seeking to get abortions, as well as certain other treatments. The move will help workers in states like Texas where most abortions have now been illegalised. We hear from Anthony Johndrow, who advises businesses, including tech firms, on their social issue positioning. Also in the programme, the BBC's Mike Johnson examines why Turkey is seeking to rebrand itself with its Turkish name, Türkiye.

Ed Butler is joined throughout the programme by Sarah Birke, The Economist’s Bureau Chief in Mexico and Robin Harding, Tokyo bureau chief for the Financial Times.

Picture: General view of a BP gas station. Credit: Oleg Nikishin/Getty Images

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