The Government must find Conservative ways to ease the cost of living

SIR – Is it not time the Conservative Party rebranded itself as Labour-lite?

Very few of its present or proposed policies bear any relation to Conservative values. That the idea of a “windfall tax” on oil and gas companies is even being discussed (report, May 18) is unacceptable to anyone with a sensible economic outlook.

I am at a loss to think of any party worth voting for.

Rupert Tickner

Bordon, Hampshire

SIR – The idea of a windfall tax on oil and gas companies is apparently “wildly popular” with the public.

However, did the researchers check whether those contacted were aware of BP’S loss of £20billion from leaving Russia? Or Shell’s losses from quitting Sakhalin-ii and two Siberian oilfield projects (estimated at £4 billion), as well as the Nord Stream 2 pipeline (estimated at almost £1 billion)? Had the researchers factored in the increased investments that these and other energy companies should be making in oil and natural gas around Britain and elsewhere (and hopefully in sound renewable energy schemes as well)? If our ministers are really “warming to the idea” of this tax they should be ashamed.

Professor Michael Jefferson Melchbourne, Bedfordshire

SIR – Oil exploration is a risky activity. In return for taking the risk of loss, companies are entitled to the profit, even if it is unexpected. To interfere would discourage enterprise – something of which we need more. James Pickthorn London SW6

SIR – The idea of a windfall tax is not popular with me.

The energy companies that the Labour Party and other Left-leaning politicians want to target provide millions of pounds to pension companies’ funds every year. A further tax on them will be a tax on pensioners.

A better way to use the money would be to allow energy companies to invest in Britain’s many large, currently untapped, offshore gas and oil fields, and also start some serious fracking, thus reducing our reliance on imported energy. This would give consumers a much bigger windfall. Simon Perks

Poughill, Devon

SIR – We should not fear a “return to 1980s-style inflation” (report, May 18) but to 1970s-style inflation.

Last month’s jump was two percentage points, 24 per cent a year if annualised (near 1975’s peak of 26.9 per cent). Already baked in then were exorbitant pay rises clinched by the trade unions, compounding the inflationary energy shock of 1973. Today, union dinosaurs plan to repeat history by adding new wage inflation to the current mess.

Margaret Thatcher took her time to combat 1970s and 1980s inflation, putting the trade unions back in their box. There is no Mrs Thatcher now. Charles Foster Chalfont St Peter, Buckinghamshire