Calls for windfall tax as BP's profits surge
Last week you prayed for ‘wise costing and balancing by energy firms, oil giants and the government so that the cost of living remains stable’, after oil giant Shell announced profits four times higher than last year. This week BP reported its highest profit for eight years. The very same energy prices that have spelt crippling bills for consumers have prompted BP's boss to describe his operation right now as a ‘cash machine’. A combination of resurgent demand and geopolitical tensions means that wholesale gas prices are five times higher than before the pandemic - while oil prices have almost doubled. BP and Shell could make £40bn in profits this year, enough to cover the energy bills of the majority of UK households, renewing calls for a windfall tax. But the Chancellor fears it could damage investment in lower-carbon forms of energy, because energy giants' profits, tied as they are to global prices, are very volatile.
Watchdog to review charity's accounts
The Charity Commission is to review the accounts of the charity set up in honour of Captain Sir Tom Moore, who raised almost £33m for the NHS. Accounts show the Captain Tom Foundation gave out grants of £160,000 to four charities but spent more than £162,000 in management costs in its first year. Its financial statement also showed reimbursement costs of £16,097 paid to Club Nook Limited, a company run by Hannah Ingram-Moore, Captain Tom's daughter. These costs were said to be for accommodation, security and transport relating to Captain Sir Tom ‘travelling around the UK to promote the charity’. The foundation said it welcomed the commission's input.
Strategy for living with Covid
‘It is my intention to return on the first day after the half-term recess to present our strategy for living with Covid’, Boris Johnson has said. ‘Provided the current encouraging trends in the data continue, it is my expectation that we will be able to end the last domestic restrictions - including the legal requirement to self-isolate if you test positive - a full month early.’ The law will be replaced with guidance; for example, people will be urged not to go to work if they have Covid. The PM added, ‘The self-isolation regulations expire on 24 March, at which point I very much expect not to renew them. Indeed, were the data to allow, I would like to seek a vote in this House to bring that date forwards’ Downing Street also suggested there could be an update on the remaining travel rules when Mr Johnson sets out his ‘living with Covid strategy’ later this month.
Safer internet for children
On 8 February, the day dedicated to safer internet, the department for culture, media and sport and MP Chris Philp published the Online Safety Bill, which will force pornography websites to prevent underage access including by using age verification technologies. They believe that children will be better protected from online pornography under the new measures in the Government’s pioneering new internet safety laws. Pray that all sites that publish pornography will successfully put robust checks in place to ensure their users are over 18 and that no one slips through the safety net. If sites fail to act, Ofcom will be able to fine them up to 10% of their annual worldwide turnover or can even block them from being accessible in the UK. Bosses of these websites could also be held criminally liable if they fail to cooperate with Ofcom.
