‘A disincentive!’ Keir Starmer on the spot as Ridge dismantled Labour windfall tax plans

Keir Starmer questions Boris Johnson on Roman Abramovich

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Keir Starmer was questioned over the Labour Party’s proposed implementation of a series of windfall taxes to respond to the ballooning costs of energy. Sir Keir insisted the proposal would move the burden from Britons to energy companies earning more than expected because of rocketing bills. But Sky News presenter Sophy Ridge pointed out two leading flaws in his proposal.

The Sky presenter said: “Is there not a concern, firstly, that this windfall tax will not necessarily be passed on to consumers, but also it could almost act as a disincentive to invest more in oil out of the North Sea at a time when we are facing big questions about our energy security?”

The Labour leader said: “These are windfall taxes. These are taxes on profits those companies did not expect to make.

“The global prince has been higher than they had anticipated, therefore, they made more profit than they anticipated.

“They used expressions like, ‘we’ve got more money than we know what to do with.’

“The argument the Government has is we won’t touch that. Instead, we’ve asked families to foot the bills by having a loan they don’t want.

“It just shows the complete difference in priorities the Labour Party who wants to look after families and the Government who’s putting even more pressure on those families.”

More to follow…

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