says the party welcomes an energy price cap freeze, but argues it should be paid for by a windfall tax, rather than borrowing. what s really concerning is who pays for this and what we get for it. because what the government have been saying is that all of the cost of their plan will fall on borrowing, which is future taxpayers footing the bill which is in contrast for what we have been calling for, which is a windfall tax on excess profits from oil and gas giants to pay for some of that help. the real dividing line here, the real difference is who will pay for it. if you look at the oil and gas giants excess profits, we know from the treasury documents there s some £170 billion worth of excess profits over the next couple of years, and for the government to rule out looking at asking for a contribution from those excess profits we think is just wrong.
£2500 including a £400 rebate that all households will receive in october. many groups argue this is still far too much for some vulnerable households to be able to afford going into the winter especially with the wholesale price of electricity set to soar in the months ahead but it seems, the government thinks it is the quickest way to deliver support of the greatest number of households now. what are the risks in funding about borrowing? that means the taxpayer will end up paying for this, even if not a true bills, then your taxes and of course the opposition parties want a windfall tax? the and of course the opposition parties want a windfall tax? want a windfall tax? the cost estimates want a windfall tax? the cost estimates range want a windfall tax? the cost estimates range widely - want a windfall tax? the cost estimates range widely from | want a windfall tax? the cost - estimates range widely from around 100 billion through two £170 billion which to put it in the conte
crucial question about who pays, because we know from the treasury that there are £170 billion of excess profits being made by the energy companies. we believe that a windfall tax must be part of the solution to that. that is the fair thing to do and the right thing to do and i m afraid that liz truss is making a terrible mistake by setting her face against that, because in the end, higher borrowing will have to be paid for somehow and it will end up falling back on the british people and she is leaving money on the table that these companies are making. the table that these companies are makin. ~ :, the table that these companies are makin. 9 :, :, i. the table that these companies are makini. 9 :, :, i. :, the table that these companies are makini.~ :, :, :, the table that these companies are makini :, :, .y : ,, making. what do you mean by excess irofits? making. what do you mean by excess profits? what making. what do you mean by excess profits? what is making. what do you
up and i want us to continue to stand up to that appalling russian aggression that has led to the energy crisis we face now. i am against a windfall tax. i believe it is the wrong thing to be putting companies off investing in the united kingdom just when we need to be growing the economy. thank united kingdom just when we need to be growing the economy. be growing the economy. thank you for that answer. be growing the economy. thank you for that answer. i be growing the economy. thank you for that answer. i ask, be growing the economy. thank you for that answer. i ask, because - be growing the economy. thank you for that answer. i ask, because the | for that answer. i ask, because the treasury estimates are that the energy producers will make £170 billion in excess profits over the next two years. the prime minister knows she has no choice but to back an energy price freeze, but it won t be cheap and the real choice, the political choice, is who is going to pat’- political c
pounds. but it also potentially true. but what is staggering in this article is that it goes on to say that although this will cost maybe 50- £100 billion that although this will cost maybe 50 £100 billion over the next three years, over the next two years, gas and electricity generators could make £170 billion and excess profits. it seems to me there s something wrong with the market, and what i think we really need is more radical thinking. and a temporary halt to the scale of the rises to allow the government, the new government to find a way to directly reform the energy market. and if you stop energy bills going up so much,