Bigger windfall tax demanded after BP’s £7bn profits; UK house prices fall; factory downturn continues – business live

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Calls grow for extended windfall tax after energy giant beats forecasts thanks to strong gas trading, and announces a new $2.5bn share buybackBP expects to pay £700m in windfall tax after bumper profitsBP has ‘cleaned up’ thanks to the jump in the oil price this year, explains ITV’s Joel Hills:Ed Miliband MP, Labour’s Shadow Climate Change and Net Zero Secretary, says the prime minister should be ashamed that his levy on the energy industry’s profits hasn’t brought in more money.“Today’s profits at BP are damning evidence of the failure of the government to levy a proper windf ...

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