NEWS… BUT NOT AS YOU KNOW IT
Jeremy Hunt has announced a further windfall tax on booming energy firms to ease the pressure on households and businesses this winter.
As he delivered his long-awaited Autumn Statement, the Chancellor confirmed he will increase the energy profits levy from 25% to 35% until 2028.
He told MPs: ‘I have no objection to windfall taxes if they are genuinely about windfall profits caused by unexpected increases in energy prices.
‘But any such tax should be temporary, not deter investment and recognise the cyclical nature of many energy businesses.