Labour has called for a “proper windfall tax” on energy companies, calling Prime Minister Rishi Sunak’s plans a “pale imitation” of Labour’s suggested structures.
Ed Miliband, Labour’s shadow climate change and net zero secretary, said: “As millions of families struggle with their energy bills, the fact that Shell recorded the second highest quarterly profits in the company’s history is further proof that we need a proper windfall tax to make the energy companies pay their fair share.
“Labour has led the way in calling for a windfall tax on energy companies making bumper profits in this crisis, to help fund our energy price freeze.
“Rishi Sunak’s existing plans are a pale imitation of Labour’s windfall tax, and would see billions of pounds of taxpayer money go back into the pockets of oil and gas giants through ludicrous tax breaks.
“It tells you everything you need to know about whose side this Conservative government is on that they refuse to back Labour’s proper windfall tax whilst working people, families, and pensioners suffer.”