Abena Oppong-Asare
Main Page: Abena Oppong-Asare (Labour - Erith and Thamesmead)Department Debates - View all Abena Oppong-Asare's debates with the HM Treasury
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Abena Oppong-Asare (Erith and Thamesmead) (Lab)
May I begin, Mr Speaker, by wishing you, the Minister and the whole House a jolly Christmas?
If the Government had implemented Labour’s windfall tax, they would have raised an additional £16.8 billion. Why have the Government chosen to leave this windfall of war on the table and not put it to use to support families and businesses in the tough winter ahead?
James Cartlidge
I do not entirely accept that. I would be interested to know the detail behind that figure. What we can confirm is that we have two specific levies: one on oil and gas, and one on certain electricity generators. We think that these are being applied in a very fair way. The levy to which the hon. Member refers does include an allowance for investment but this is the point. That level of support cannot continue for ever. The long-term answer is energy security—investment in new energy sources and, indeed, investment in the North sea, supporting UK jobs and the transition to net zero.