Labour pledge to 'extend' windfall tax to protect families from soaring energy bills

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Rachel Reeves and Labour leader Sir Keir Starmer were at the World Economic Forum in Davos this week, where the party called for a 'clean power alliance' of countries to help bring down energy prices.

Ms Reeves is expected to say that alongside a freeze on fuel duty, there should be a three-month moratorium on the forced installation of pre-payment meters."Millions of households are still looking to a 40% increase in their energy bills, in April," Ms Reeves will tell the conference.

She will also set out her party's long-term strategy of reaching 100% clean power by 2030 and retrofitting millions of homes.What's a windfall tax, how much do oil companies already pay, and has UK tried it before?"We cannot persist with walking into a crisis unprepared, and at the last minute producing hugely expensive fixes to get us through, while the underlying problems - those weakened foundations - remain untouched.

 

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She moans about the 'premium' prepay customers are forced to pay. It's on average 16 pence a day! That's all. A pound a week give or take. The difference is negligible - it's not a 'premium'. Pay on receipt customers pay £156 a year more. Why not sort THAT tariff out!?

Isn’t this that Amazon show that everyone hates?

Why not just reinvest in gas it use to be £24 per MWh before you abandoned it for more expensive options

How about the gas companies passing on the reduced price of gas to us now the price has gone down to pre Ukraine war levels ? No the greedy bustards aren't. They're profiteering.

What about non-families?

Yeah like that will work, more tax just means energy will increase in price to cover it. Then there will be more strikes because people will need more money its just a vicious circle!!

There will be nothing left to tax if they get in companies will either go bust or leave the U.K. and there’s always the option that they vould refuse to sell energy to the U.K.

labour will kill the Oil Industry, therefore no more windfalls.

Someone has got to pay the bill👌

Another incredibly smart Labour policy. Tax energy companies further, already at 65%. Targeting the suppliers in the UK, where most of the smaller suppliers are struggling and/or going out of business. And the energy producers, who are not domiciled in the UK so out of scope...

Sky *YET AGAIN* acting as Labour's mouthpiece. It is honestly ridiculous at this point. Every time the Conservatives propose something we IMMEDIATELY get a headline saying 'Tory plans criticised by _____'. The bias is insane. The establishment want weak old Starmer in.

Unlikely to happen though. Starmer’s got form for breaking his pledges.

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