Windfall24 May 2022 23:19
Telegraph:
Windfall tax within days as Boris Johnson tries to move on from partygate
Prime Minister set to announce help for millions of families struggling with the cost of living crisis, as Sue Gray report imminent
The Treasury is finalising plans for a windfall tax on energy firms, which will be used to fund new support for those most struggling with the cost of living crunch.
Rishi Sunak, the Chancellor, has concluded that a one-off windfall tax on oil and gas companies is justified, given that some have seen their profits double as prices soar.
The tax could be directly linked to the amount of investment each company delivers.