The Northern Ireland secretary insisted the government could not rule out anything if no investments were made, but emphasized that ministers “were all right to be wary of unexpected taxes”.
“I am a conservative, I believe in a low tax economy. We want to see as much money as possible in the pockets of people and companies that invest in high productivity and highly skilled, well-paid jobs.”
And while accusing Labor of prioritizing “a few headlines” over supporting business, he warned: “Dropping things like that could deter investment. It’s damaging to the UK economy.”
At the Welsh Conservative conference on Saturday, Mr Javid said: “You just mentioned the idea of a windfall. Instinctively I don’t like it. I just think we have to be very careful.
“As a country, we have a very hard-won but strong reputation for pro-business and welcoming investment.
“Businesses love certainty and there is no such thing as pure certainty, but when it comes to taxes, I think we have to be very careful about these sudden taxes that could have long-term consequences that we regret.”
Sam Rowlands, the Tory Senedd member who interviewed Mr Javid onstage, replied: “I think those points will certainly be welcome in this room under Welsh Conservatives, so thank you for making them.”
Voter polls in Whitehall found that a windfall tax was popular with the public, with as many as eight in 10 in favor of the tax bill on energy companies, which have made unexpectedly high profits after prices skyrocketed in recent months.
Boris Johnson said in a recent radio interview that a windfall tax was not the way forward and that instead he would prefer to see oil companies invest more in new energy sources.