Rishi Sunak should have adopted Labour's plan to remove VAT on fuel bills and impose a windfall tax, writes Rachel Reeves
that the dust is settling from the Chancellor’s energy announcement, the uncomfortable truth is that families in Britain will still be worrying about their bills.
Only today Shell announced their profits have quadrupled to $20 billion – results they themselves described as ‘momentous’.Labour’s plan to keep people’s bills low would impose a one-off windfall tax on these excess profits. But instead of putting this plan in place, the Chancellor would rather shield the oil and gas producers, while loading the cost onto working people and pensioners.The best of way of targeting support to those who need it most is an increase to £400 of the Warm Homes Discount, along with an extension to 9 million households, as Labour has proposed.t’s a crude measure that will mean many of the poorest households get no extra support, while some of the richest do.
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