Windfall tax not off the table despite opposition

THE Government has not ruled out imposing a windfall tax on energy companies despite strong opposition from several ministers.

Education Secretary Nadhim Zahawi has said the Cabinet is considering "all the options" to combat the cost-of-living crisis, including a one-off levy on firms which have benefited from globally high gas and oil prices.

Chancellor Rishi Sunak has not ruled out imposing a windfall tax on energy producers, but ministers including Anne-Marie Trevelyan, Brandon Lewis, Sajid Javid, and Jacob Rees-Mogg have criticised the measure as ineffective.

When asked about imposing a windfall tax by Sky's Sophy Ridge yesterday, Mr. Zahawi said: "We will look at all the options.

"I with the Chancellor, Prime Minister, and Cabinet will look at every option."

But he spoke about the impact this could have on elderly people, adding: "If you apply a windfall tax, [companies] will probably have to reduce or take away their dividend.