8.9 C
London
Monday, January 30, 2023

Labour seeks to increase pressure on Tory MPs with windfall tax Commons vote

Must read

Ice storm to hit the south as NYC continues its snowless streak

A long-lasting ice storm will affect much of the South through Wednesday, with the Dallas-Fort Worth metropolitan area at the center of the threat....

Haun Ventures Leads Sovereign Labs’ $7.4 Million Seed Round to Help Blockchains Scale – londonbusinessblog.com

Sovereign Labs has raised $7.4 million in seed funding led by Haun Ventures, co-founders Preston Evans and Cem Özer told londonbusinessblog.com. The startup is building...

Jett Kain Gay: Star Attracts Gay Rumors After Blake Abbie Incident! reveals his sexuality

Jett Kain Gay: Star Attracts Gay Rumors After Blake Abbie Incident!...

Quantum sensing startup Q-CTRL raises another $27.4 million londonbusinessblog.com

Two quantum adjacent technologies - quantum sensing (QS) and quantum communication (Qcomm) - are as important as quantum computing hardware itself, as they help...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.
C

onservative MPs are facing fresh pressure to support a one-off windfall tax on oil and gas producers in a bid to cut energy bills.

Labour on Tuesday will seek to force a Commons vote on its amendment which expresses regret at the omission of the policy from the Queen’s Speech.

It comes as MPs debate “tackling the short-term and long-term cost of living increases” on day five of the Queen’s Speech debate.

Chancellor Rishi Sunak recently told the BBC he is not “naturally attracted” to a windfall tax, but he would be “pragmatic about it” in light of the profits for such companies due to elevated prices.

BP and Shell reported bumper profits earlier this year as energy prices skyrocketed.

Chancellor Rishi Sunak said he is not ‘naturally attracted’ to a windfall tax, but he would be ‘pragmatic about it’ (Oli Scarff/PA) / PA Wire

In February, MPs supported a Labour motion for the new windfall tax to be imposed on North Sea producers to fund a support package for families and business.

But Conservative MPs abstained and the Government was not compelled to act as the motion was non-binding.

Ed Miliband, shadow climate change and net zero secretary, said of Tuesday’s vote: “As energy bills rise by record amounts for millions of families, it is shameful that Boris Johnson and Rishi Sunak still refuse to back a windfall tax that could help tackle the cost-of-living crisis.

As energy bills rise by record amounts for millions of families, it is shameful that Boris Johnson and Rishi Sunak still refuse to back a windfall tax that could help tackle the cost-of-living crisis

“Today, Labour will give MPs another chance to support our one-off windfall tax on oil and gas producer profits to bring down bills.

“This fair and principled measure now has support from business, trade unions, across the political spectrum and most importantly, the overwhelming majority of the public.

“Conservative MPs must now join the British people in calling for a windfall tax – or explain why they continue to oppose measures that would ease the cost-of-living crisis.”

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Ice storm to hit the south as NYC continues its snowless streak

A long-lasting ice storm will affect much of the South through Wednesday, with the Dallas-Fort Worth metropolitan area at the center of the threat....

Haun Ventures Leads Sovereign Labs’ $7.4 Million Seed Round to Help Blockchains Scale – londonbusinessblog.com

Sovereign Labs has raised $7.4 million in seed funding led by Haun Ventures, co-founders Preston Evans and Cem Özer told londonbusinessblog.com. The startup is building...

Jett Kain Gay: Star Attracts Gay Rumors After Blake Abbie Incident! reveals his sexuality

Jett Kain Gay: Star Attracts Gay Rumors After Blake Abbie Incident!...

Quantum sensing startup Q-CTRL raises another $27.4 million londonbusinessblog.com

Two quantum adjacent technologies - quantum sensing (QS) and quantum communication (Qcomm) - are as important as quantum computing hardware itself, as they help...

Zendaya Feet: Facts and Photos of Her Feet and Legs

Not only do celebrities attract attention because of their facial features, but there are also those who are best known for their feet. ...