Chancellor says ‘temporary, targeted’ levy will be used to soften impact of cost of living crisis
Rishi Sunak has succumbed to pressure to do more to tackle the cost of living crisis and announced a £5bn windfall tax on energy companies, calling it a “temporary, targeted energy levy”.
“The oil and gas sector is making extraordinary profits, not as the result of recent changes to risk taking or innovation or efficiency but as the result of surging global commodity prices driven in part by Russia’s war.”
