Electricity Suppliers Warn of 3 Hour Power Cuts
Gas shortages this winter could force factories to ‘shut down’, says industry chief. The National Grid warns of three-hour power cuts in some areas. The National Grid Electricity System Operator is planning for a sufficient power supply in the face of a challenging winter for European energy supplies following Russia’s Continue Reading
Tax Justice calls for 95% Energy Windfall Tax
Today the new Prime Minister Liz Truss announced a huge cost of living support package estimated to be worth £150bn. It will freeze the energy bills of consumers and businesses from further rises. It’s good that the government is stepping in to protect us from soaring energy bills. This is Continue Reading
Truss Economy: No Windfall Tax; Public Borrowing and a Tax Cut for ‘Investment’?
Making her debut speech in PMQ today, Prime Minister Liz Truss confirmed that she is not in favour of implementing Windfall Tax on Energy companies (thereby overturning a previous promise made by Rishi Sunak whilst he was Chancellor); preferring instead to borrow up to an estimated £100bn to subsidize the Continue Reading
Truss Economy: No Windfall Tax; Public Borrowing and a Tax Cut for ‘Investment’?
Making her debut speech in PMQ today, Prime Minister Liz Truss confirmed that she is not in favour of implementing Windfall Tax on Energy companies (thereby overturning a previous promise made by Rishi Sunak whilst he was Chancellor); preferring instead to borrow up to an estimated £100bn to subsidize the Continue Reading
UK Government Will Borrow to Subsidise Energy Companies
Prime Minister Liz Truss is planning to borrow billions to limit the expected sharp rise in energy bills for households and firms. According to reports, the government intends to pay energy companies to subsidise prices, with customers no longer required to pay back the support. The anticipated plan would increase Continue Reading
