Labour has spent the last year campaigning for a windfall tax on the oil and gas companies for one simple reason – that when companies are raking in the windfalls of war to make record profits at the expense of households across the country, it is only right that they pay their fair share in tax.
In the last week we have seen Shell and BP clock up record profits – money coming directly out of people’s pockets in the form of their energy bills.
What is so outrageous is that as fossil fuel companies rake in these enormous sums, Rishi Sunak is too weak to make them pay their fair share.
His pale imitation of Labour’s proposed windfall tax has more holes than a Swiss cheese. It hands huge tax giveaways to fossil fuel companies, only starts from May 2022, and is at a rate lower than other countries.
A proper windfall tax could raise billions of additional revenue which could go straight back to help families with their soaring bills this winter.
Read More
(
Getty Images)
It is staggering the Conservatives want to leave this money on the table because in just eight weeks’ time, the Government plans to allow the energy price cap to rise to £3,000.
Labour would use a proper windfall tax to stop prices going up in April.
This is why people are sick and tired of the way the country is run under the Tories.
How can it be right that the British people struggle to pay their energy bills whilst the fossil fuel companies make record profits?
It is a basic question of fairness and the Conservatives, as usual, are failing to stand up to the powerful vested interests on behalf of the British people.
Ultimately, Britain needs to get off expensive fossil fuels and onto clean, homegrown power.
Labour has a plan to make Britain a clean energy superpower by 2030- cutting bills, boosting our energy independence, and creating good jobs across our country.
But as well as a long term plan, we need basic fairness on the cost of living. That is what Rishi Sunak will never deliver.
* Follow Mirror Politics on Snapchat, Tiktok, Twitter and Facebook.