Tax the energy companies to cut our bills

To: Kwasi Kwarteng, energy secretary

Household energy bills have reached the record level of almost £2,000 per year – and they are set to rise even further.

Yet at the same time, as oil and gas prices rise, energy companies like Shell and BP are announcing record profits.

A windfall tax on these profits would raise billions to reduce our bills.

This idea is under serious consideration at the highest levels of government. The chancellor Rishi Sunak has openly said that he is considering the idea of a windfall tax on the energy companies.

Sunak told the BBC that while he was not “naturally attracted” to the idea of a windfall tax, he was “pragmatic” about it. He said: “What I do know is these companies are making a significant amount of profit at the moment because of these very elevated prices”, and added that “no options are off the table”.

This matches up with press reports that Treasury officials have been asked to examine the windfall tax plan.

This one action would do so much to ease the cost of living crisis.

We can’t afford this rise in energy bills, but BP and Shell have billions to spare. Make them pay instead.


Highlighted comments

“I literally can’t afford my new energy tariff and have no clue how I’ll pay it. We both work full time and have a 4 year old son. Our wages still aren’t enough to cover this massive scam.”

John, Brighton

“I’m scared to put the heating on.”

Liz, Colchester

“Living on basic pension and pension credit, these price increases – especially when combined with the others like food and basic household goods – make life desperately difficult.”

Jeannette, Lancashire

“As a single person on a part-time wage I am already cutting costs wherever I can, and this is filling me with dread.”

Anthony, Leeds

“Our energy provider went bust and British Gas’s estimate of what we will now pay is way more than double the price we were paying.”

Phyllis, Thanet

“Essential utilities should not be in the hands of private companies focusing on profit. Public ownership for gas, electricity and water provision is the only ‘fair’ way for the benefit of all.”

Frank, London

“Shocked at the discrepancies between UK and Europe in terms of energy prices, must be a result of Brexit led by this government. They now have a duty to protect the British public from the results of their lies!”

Fiona, Norfolk

“The current level of financial burden the poorest families are expected to bear will be catastrophic. Huge hikes in energy costs, stagnant wages, zero hours contracts, food shortages and price hikes, NI increases, reduced universal credit, the list goes on.”

James, Dorset

 

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