Energy Prices Bill

Nadia Whittome Excerpts

2nd reading
Monday 17th October 2022 Commons Chamber

[Nadia Whittome (Nottingham East) (Lab)]

This Government gambled with the markets and lost, and for what? To give their super-rich friends and donors massive tax cuts, and now working people are having to pay the price.

Just five days ago, the Prime Minister argued that pensioners would suffer if her plans for a two-year energy price guarantee did not go ahead. This morning, the Chancellor cancelled that guarantee, saying that it would be

“irresponsible to continue exposing public finances”

and that he would take

“whatever tough decisions are necessary”.

Why is it that those “tough decisions” are always paid for by working-class people and not by the wealthiest?

The United Kingdom is already one of the most unequal countries in the global north, second only to the United States in the G7, 3.9 million children live in poverty and many more are on the brink. Making the situation worse, not just in recent weeks but over the last 12 years—now that is irresponsible! The response to this crisis should be to tax the rich. If the Chancellor wants to balance the books, why does he not impose a windfall tax on the energy giants which are set to make up to £170 billion in excess profits over the next two years? Would it by any chance have something to do with the fact that the Conservative party has taken £1.3 million from fossil fuel interests since the last election? This is a Government who serve the energy corporations that are raking in massive profits and trashing our planet, and not the millions of people who cannot afford to pay their bills and rent or to buy food. We are in a rudderless boat that is sinking, the Prime Minister has no authority or credibility and, after yet another U-turn, only one thing is certain, and that is that this Government are finished.

Question put and agreed to.

Bill accordingly read a Second time; to stand committed to a Committee of the whole House (Order, this day).

Further proceedings on the Bill stood postponed (Order, this day).

Energy Prices Bill (Money)

King’s recommendation signified.

Motion made, and Question put forthwith (Standing Order No. 52(1)(a)),

That, for the purposes of any Act resulting from the Energy Prices Bill, it is expedient to authorise the payment out of money provided by Parliament of:

(1) any expenditure incurred under or by virtue of the Act by the Secretary of State or any other public authority, and

(2) any increase attributable to the Act in the sums payable under any other Act out of money so provided—(Amanda Solloway).

Question agreed to.

Energy Prices Bill (Ways and Means)

Motion made, and Question put forthwith (Standing Order No. 52(1)(a)),

That, for the purposes of any Act resulting from the Energy Prices Bill, it is expedient to authorise—

(1) provisions by virtue of which persons concerned with the generation of electricity may be required to make payments or become liable to penalties;

(2) provisions by virtue of which electricity suppliers may be required to make additional payments or provide additional financial collateral under Chapter 2 of Part 2 of the Energy Act 2013;

(3) the payment of sums into the Consolidated Fund—(Amanda Solloway).

Question agreed to.