Kay Burley grills Liz Truss on windfall tax
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The Government is set to slap down a temporary “de-facto windfall tax” on the profits of renewable energy producers, despite Ms Truss previously rejecting calls for such a measure on the basis that it would hinder investment and growth. As one of her first acts in her new role, the Prime Minister had unveiled a huge energy bailout package that freezes bills at £2,500 for the typical household, swerving Ofgem’s £3,549 planned price cap. But questions arose as to how the Prime Minister planned to fund the measure, with Labour repeatedly calling for a windfall tax on the huge profits of oil and gas giants like shell and BP.
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