10:30 Nick Smith (Labour)

Today we read in the press that the oil and gas company Shell will take some of its bumper profits, creamed off the top of people’s soaring energy bills, and use it for share buy-backs. Shell plans to start a £2.8 billion share buy-back scheme to inflate its own share price, rather than to help tackle the climate emergency or boost our economy. A 4% tax on share buy-backs as proposed by the Liberal Democrats could raise about £2 billion per annum for our public services, so could we please have a debate on share buy-backs and the potential benefits of such a levy?

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