Immediate action needed to help people with their heating and food bills, the director general of the CBI says
Don’t let people off if they steal food, minister tells policeSunak vows to cut taxes for business to tackle cost of living crisisCovid ‘a walk in the park’ compared to inflation, say small firmsHelping cash-strapped Britons won’t add to inflation, says CBI
In his interviews this morning Kit Malthouse, the policing minister, also said that the government was “intrinsically opposed” to the idea of a windfall tax on energy companies. But he also conceded it was a possibility. He told Times Radio:
We are intrinsically opposed to that kind of taxation. We want to see a pattern of investment from that industry that will help us with our medium and long-term energy problems.
But the chancellor reserves the right to take all steps he thinks necessary and he’s in conversation with that industry all the time, I’m sure.
Treasury officials believe that the levy is “politically unavoidable” but are being blocked by the prime minister’s advisers.
Rishi Sunak, the chancellor, has left the door open on imposing a one-off tax on energy suppliers as he comes under increasing pressure to do more to help people with the cost of living. In conversations with No 10, Treasury officials have argued that while a windfall tax would not raise a significant amount it would send a powerful message to the public that the government was “on their side”.
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