Tory MPs Vote Down Plan To Slash Energy Bills
Labour’s call for a windfall tax on energy giants to help people deal with the cost-of-living crisis has been voted down.
The fifth day of the Queen’s Speech debate saw MPs raise their concerns on “tackling the short-term and long-term cost-of-living increases”.
During the Commons session, Labour forced a vote on its amendment on a windfall tax on the excess profits of oil and gas companies, a move designed to bring down the cost of soaring energy bills.
The motion expressed regret at the omission of the policy from the government’s priorities for the next parliamentary session.
In the event, the government won the vote by 310 to 248, a majority of 62. The division list suggest not a single Conservative MP backed the policy.
Ahead of the division, Conservative former minister Robert Halfon and Mel Stride, Tory chairman of the Treasury committee, both indicated support for the policy, with the former labelling oil company bosses “the new oligarchs”.
Shadow climate change and net zero secretary Ed Miliband said he would have “no idea” how he would cope with soaring energy bills if he was on the basic level of Universal Credit.
He added on the windfall tax: “The truth is, they have run out of excuses, and amidst the chaos and confusion about what their position is, I think a massive U-turn is lumbering slowly over the hill.
“But I say this to the Chancellor: swallow your pride and get on with it.”
Chancellor Rishi Sunak repeated his claim that “no option is off the table”, and that only if oil and gas giants do not invest their profits back into “growth, job and energy security” could the policy could be introduced.
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