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Daily Mirror
Daily Mirror
Business
Graham Hiscott

British Gas boss banks £56MILLION tax rebate as Brits struggle in cost of living crisis

British Gas owner Centrica banked a £56million tax rebate on its North Sea operations last year.

The industry giant was able to use losses in the previous few years in its UK drilling arm to offset what it made in the division in 2021.

But the analysis by climate group Uplift found that, in the same period, Centrica paid Norway £35million in tax.

It comes amid mounting pressure on the government to slap energy giants with a second windfall tax to help cost of living ravaged households.

Centrica’s profits soared five-fold to £1.3billion in the first six months of this year, boosted by sky-high wholesale gas prices.

Profits at its British Gas arm fell.

Centrica Energy which owns British Gas has banked a £56 million tax rebate amid calls for gas giants to face a second windfall tax (Evening Gazette)

Tessa Khan, an international climate change lawyer and founder Uplift, said: “It beggars belief that Centrica is essentially taking handouts from the UK in tax rebates while millions of people can’t afford their energy bills.

“The UK is one the most profitable places in the world for oil and gas companies.

“Even with the windfall tax, they still pay less here than the global average.”

Centrica said the losses from previous years related to its Spirit arm.

A spokesman added that Centrica as a whole was expected to pay around £600million through the new windfall tax over the next couple of years.

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