Labour: No 10 must close £17bn windfall tax loophole
The Independent|November 30, 2022
Labour has accused the government of botching” its windfall tax on North Sea oil and gas companies by leaving loopholes that the party calculates will cost the public finances £17bn.
ANDREW WOODCOCK POLITICAL EDITOR
Labour: No 10 must close £17bn windfall tax loophole

In a challenge to Jeremy Hunt, Labour is tabling an amendment to the bill enacting the chancellor's autumn statement, demanding that he spell out the full cost of windfall tax allowances for fossil fuel firms.

Shadow chancellor Rachel Reeves said that the sums which could be raised by ditching the allowance - as well as backdating the windfall tax to the start of 2022 and matching Norway's 78 per cent levy on its North Sea firms - was the equivalent of three years' turnover for the UK wind power industry and could pay for the insulation of 6 million homes. Her comments came as pressure mounted on Rishi Sunak to lift the effective ban on onshore windfarms in England.

Some 32 Conservatives have now signed a rebel amendment to allow onshore developments, with former cabinet ministers Nadine Dorries, Wendy Morton and Julian Knight bringing the tally close to the number needed to inflict Mr Sunak's first Commons defeat as PM. And a rival Labour amendment could go further, placing a duty on local authorities to identify potential sites for turbines.

This story is from the November 30, 2022 edition of The Independent.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

This story is from the November 30, 2022 edition of The Independent.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

MORE STORIES FROM THE INDEPENDENTView All
As Russians target Kharkiv, 'next few days are critical'
The Independent

As Russians target Kharkiv, 'next few days are critical'

Colonel tells Askold Krushelnycky how the situation could develop ‘dangerously’ for Kyiv’s troops as Moscow seeks to press on from the border towards Ukraine’s second city

time-read
5 mins  |
May 14, 2024
Putin's reshuffle could be a pledge to long-haul conflict
The Independent

Putin's reshuffle could be a pledge to long-haul conflict

Russia is going full steam towards becoming a ‘war economy’

time-read
3 mins  |
May 14, 2024
Trump feared 'disaster' for campaign, Cohen alleges
The Independent

Trump feared 'disaster' for campaign, Cohen alleges

Former ‘fixer’ testifies how he paid off Stormy Daniels

time-read
6 mins  |
May 14, 2024
Thousands flee from Rafah as Israel steps up its assault
The Independent

Thousands flee from Rafah as Israel steps up its assault

Israeli forces have pushed deep into Jabalia in northern Gaza – to recapture an area where they said Hamas had been dismantled weeks ago – while tanks and troops continue to move into the southern border city of Rafah.

time-read
3 mins  |
May 14, 2024
Why we should worry about rise of 40-year mortgages
The Independent

Why we should worry about rise of 40-year mortgages

More than 42 per cent of new mortgages will be being paid off in pension age, but with sky-high house prices is there any other option for first-time buyers

time-read
4 mins  |
May 14, 2024
Villa come back from dead after fan Hanks' pep talk
The Independent

Villa come back from dead after fan Hanks' pep talk

Aston Villa do not quite have the Hollywood ending to their season but the watching Tom Hanks got an illustration that football can script stranger drama than his line of work.

time-read
3 mins  |
May 14, 2024
'It is the time to do it' Guardiola eves historic haul
The Independent

'It is the time to do it' Guardiola eves historic haul

Pep Guardiola can spend much of his season deflecting talk of potential achievements.

time-read
3 mins  |
May 14, 2024
SILENT TREATMENT
The Independent

SILENT TREATMENT

Chit-chat during a haircut can be torturous for introverts – but now an innovative business in Helsinki is cutting the conversation. Helen Coffey applauds the pioneering move

time-read
4 mins  |
May 14, 2024
The long and rocky road to Fury and Usyk's super bout
The Independent

The long and rocky road to Fury and Usyk's super bout

For the first time in 24 years, there will be an undisputed heavyweight champion when the pair fight on Saturday

time-read
4 mins  |
May 14, 2024
'It wasn't the US that didn't get us, it was just Nashville'
The Independent

'It wasn't the US that didn't get us, it was just Nashville'

As Kings of Leon release ‘Can We Please Have Fun’, singer Caleb Followill talks to Laura Barton about the wisdom of their late mother, hunting for approval in his home city and how a producer helped them get the dirt back in their sound

time-read
7 mins  |
May 14, 2024