Rachel Reeves responds to government’s energy announcement

Rachel Reeves, Labour's Shadow Chancellor, responding to the government’s energy announcement, said:

“After five months of being dragged kicking and screaming, the Chancellor has finally come to his senses, U-turned, and adopted Labour’s plan for a windfall tax on oil and gas producer profits to lower bills.

“Despite only bringing in the plan months ago, he’s had to ditch his dodgy buy now, pay later loan that was always destined for failure.

“There couldn’t be a more appropriate illustration of this Conservative government’s lacklustre, out of touch approach to managing our economy - arriving at the common sense solution months too late.

"And they still have no long term plan to grow our economy and pull us out of the mess they’ve got us into.

“Only Labour will tackle the cost of living crisis, grow our economy and make it stronger to protect it from shocks.”