UK Parliament / Open data

Oil and Gas Producers: Windfall Tax

Proceeding contribution from Ed Miliband (Labour) in the House of Commons on Tuesday, 1 February 2022. It occurred during Opposition day on Oil and Gas Producers: Windfall Tax.

My hon. Friend has made a powerful point.

Labour has come up with a clear and costed plan. We plan, by levying the windfall tax, to reduce VAT to zero, to increase the warm homes discount from £150 to £400, and to extend it from the 2.2 million families who currently receive it to 9 million. On top of that, we have set aside £600 million to help our businesses out. This is in stark contrast with what is being proposed by the Conservatives—the Government of the day, who, six days before the announcement of the rise in the price cap, seem to have nothing to say. What is their explanation for why they are not acting? It is very hard to find the explanation, although perhaps we will hear one today. The one person who has ventured to provide one is the Education Secretary, who has said:

“A windfall tax on oil and gas companies that are already struggling in the North Sea is never going to cut it.”

Even the oil and gas companies do not describe themselves as struggling. They say that this is a cash machine. I have to ask what planet the Government are living on. Does it not say everything about them that it is the struggles of companies making billions from an expected windfall that stir them, not the struggles of the British people? How dare they leave families in the lurch because of their refusal to stand up to vested interests in the oil and gas sector?

Type
Proceeding contribution
Reference
708 cc205-6 
Session
2021-22
Chamber / Committee
House of Commons chamber
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