Adviser Urges Profits Cap for Energy & Petrol Firms to Prevent Profiteering

The government's leading cost of living adviser, Richard Walker, has urged ministers to explore implementing a temporary cap on profits for energy and petrol companies. This measure aims to prevent them from excessively profiting from the ongoing war in the Middle East, particularly Iran's blockade of the crucial Strait of Hormuz – a major shipping route for Europe's oil and gas.

Walker, a Labour peer and the chair of Iceland supermarkets, was recently appointed as the Prime Minister's