Rotherham MP blasts government for ruling out windfall tax on energy companies

Today, Ms Truss announced a package of measures to help residents with soaring energy costs, including overturning the moratorium on fracking, and saving households £1,000 a year by introducing a £2,500 price cap for the next two years.

However, she told the House of Commons during a debate that the government will not “not be giving in to the Leader of the Opposition calls for them to be funded through a windfall tax that would undermine the national interest by discouraging the very investment we need to secure home grown energy supplies.”

The scheme is estimated to cost up to £150bn, which will be funded through borrowing.

Labour Leader Sir Keir Starmer said in the House of Commons that the “bill will be picked up by working people”, as energy companies could make “£170bn in unexpected windfall profits”.

Sarah Champion, Labour MP for Rotherham echoed the Leader of the Opposition’s statement, adding that “everyone else will be forced to pick up the tab for their greed.”

“This was an opportunity for Liz Truss’ new government to put the British people first,” said Ms Champion.

“Under this government, the obscenely rich will get richer still, whilst everyone else will be forced to pick up the tab for their greed.

“Labour’s plan would have seen these outrageous profits used to fund an energy price freeze.

“But by ruling out a windfall tax, the truth is all too clear.

“We will pay. They will profit.”