I wrote for the New Statesman about the devastating tax burden placed on working people and families last year, and how this is worsening the current cost-of-living crisis. You can read my piece as well as the thoughts of other policymakers and experts here.
It is unacceptable that while many people struggle to afford basic living costs, big energy companies are making record profits. As Labour’s Shadow Chancellor Rachel Reeves has said, those who have profited from the war in Ukraine due to rising energy prices should shoulder their share of the cost, so that ordinary people do not have to bear the brunt of a crisis that they did not cause.
As my constituents are set to face another huge spike in energy bills in April, I have urged the Government to introduce a proper windfall tax on energy giants to support families with their energy bills. By backdating this from the start of 2022, when oil and gas giants were already making historically large profits, we can raise more than £13bn to help pay for this. I therefore hope that the Government avoid repeating their costly mistakes in 2023 and expand the windfall tax.