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Oil report

UK energy minister Kwarteng: Energy windfall tax not necessarily the right move

LONDON, May 24 (Reuters) - Britain’s energy minister Kwasi Kwarteng said on Tuesday a windfall tax on energy companies was not necessarily the right way to fund help for consumers struggling with the rising cost of living.

When asked if he supported a windfall tax, he told a parliamentary committee: “I have been very clear about a windfall tax: I don’t think it supports investment, I don’t think it’s necessarily the right thing.”

He stressed any decision would be for finance minister Rishi Sunak to make. (Reporting by William James and Muvija M, Editing by Kylie MacLellan)

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