Extracts from Parliamentary proceedings: Windfall Tax - Mar 1

Extract from Commons debate on sanctions

Neale Hanvey (Kirkcaldy and Cowdenbeath) (Alba):...Finally, we must urgently look at all possible means, such as a windfall tax on energy profits, to cushion the blow on the plight of our own people who are suffering the impacts of poverty and a cost of living crisis...

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Extract from oral answer (Lords) on climate change

Baroness Bennett of Manor Castle (GP): My Lords, this morning Reuters published draft proposals from the European Commission that will be published next week including proposals for national Governments to tax the windfall profits that energy companies have made from high gas prices. If the Government want to be world-leading, do they not need to get in in the next few days to bring in a windfall tax on those gas prices that could then be used for adaptation measures, identified as urgently needed in this report?

The Parliamentary Under-Secretary of State, Department for Environment, Food and Rural Affairs (Lord Benyon) (Con): I will relay the noble Baroness’s suggestion to the Chancellor and he will consider it within the Government’s fiscal policies.

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