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No contingency tax on energy companies

Both candidates this week faced examination of them plans to help households with in cost of life crisis.

Clients face more pain next year if annual electricity bills skyrocket to more than £5,000. Ofgem, the energy regulator, may have to set in price limit of £5,038 per year for average home because of high gas prices, energy consultancy Auxilione said.

The experts said that the cover can hit £4467 in January, with in this scenario, the average family pays £571. for energy this month. Auxilione warned that the cap was likely remain over £4,000 throughout next year, saying that there is little that can be done to directly bring prices down.

Boris Johnson was in talks on Thursday with bosses over ways in which the energy sector can offer assistance for households. The prime minister told them that high prices could hurt the sector, but not new policy steps appeared.

This week it became known that officials of the Ministry of Finance are preparing options for Mr Johnson’s successor on how to do cost of a living crisis, including an increase in the existing contingency tax on energy companies.

But on Thursday Miss Truss made it clear that she is against this move, apparently in defense of the energy companies that made profit expansion. Rising energy prices have allowed oil and gas companies to make incredible profits. with BP recently announced a tripling of Underlying profit up to £6.9bn in in last quarter.

Miss Truss said: “At first of everything, I don’t think profit is a dirty word, and fact it became a curse in our society is a huge problem. because in this audience today we have hundreds of people who run businesses and make a profit.

“Of course energy giants if they in oligopoly, should be held accountable and I will force sure they were severely held accountable.

“But way we interpret the word “profit” as if it is something dirty and evil … we should not do this as conservatives, and we really playing in hand of people like Jeremy Corbin who want completely undermine our way of life.”

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Adrian Ovalle
Adrian Ovalle
Adrian is working as the Editor at World Weekly News. He tries to provide our readers with the fastest news from all around the world before anywhere else.

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