The Financial Times reports on the anger from North Sea oil and gas operators over the chancellor’s announcement of a windfall tax.

Despite the publication of a “damning report into an atmosphere of drinking and lawbreaking in Downing Street during the COVID-19 pandemic”, Boris Johnson has remained unbowed, according to the Financial Times.

The Financial Times reports that shares in some of Britain’s biggest power companies plunged sharply yesterday as Rishi Sunak proposed a windfall tax on the energy sector.

Rishi Sunak, the Chancellor, has directed officials to draw up plans for a possible windfall tax on more than £10bn of excess profits for electricity generators, including wind farm operators, on top of a tax on North Sea oil and gas producers.