UN Framework Convention on International Tax Co-operation Global Taxes 2026-03-24
2026-03-24
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Response quality
Questions & Answers
Q1
Partial Answer
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Context
The UN is proposing a framework convention for international tax cooperation, but there's no specific mention of global taxes on oil and gas companies.
Whether he has had discussions with the Chancellor of the Exchequer on global taxes on oil and gas companies in the context of the proposed UN framework convention on international tax co-operation.
This is a matter for the Treasury, although we remain closely engaged. The UN framework convention is focused on improving effective and inclusive international tax co-operation, not on creating specific global taxes on oil and gas companies.
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Assessment & feedback
specific global taxes on oil and gas companies
This Is A Matter For The Treasury
Response accuracy
Q2
Partial Answer
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Context
The market value of major oil companies has increased by over $130 billion since the US-Israeli attack on Iran, while constituents face higher energy bills.
The combined market value of the six big oil super-majors has soared by more than $130 billion since the first US-Israeli attack on Iran, while my constituents and those across the country face higher bills. Will the Energy Secretary and the Government work with international partners to establish global taxes on the fossil fuel industry through the UN tax convention and help bill payers with their energy costs?
As I said, this is a matter for the Treasury, but we look closely at where we can co-operate around the world. This country's windfall tax has raised £12 billion, funding public services and supporting the hon. Gentleman's constituents and many others with the cost of living. We will continue to invest in bringing down bills, but we will also invest in the infrastructure that gets us off fossil fuels.
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Assessment & feedback
global taxes on the fossil fuel industry through the UN tax convention
As I Said, This Is A Matter For The Treasury
Response accuracy