‘Who is going to pay for the energy bill freeze?’

Liz Truss has reiterated her opposition to a potential extension of a windfall tax on energy companies’ profits

Net Hero Podcast

Concerns have arisen today over the funding of a potential energy bill freeze.

In what could be considered her first major test as Prime Minister, Liz Truss faced earlier today Sir Keir Starmer at Prime Minister’s Questions.

Citing Treasury estimates that energy producers will make £170 billion in excess profits over the next two years, the Labour Party Leader asked Liz Truss who was going to pay the freeze on the energy bills given that the measure would not be “cheap”.

Liz Truss replied: “I am against a windfall tax. I believe it is the wrong thing to be, to be putting companies off, investing in the UK, just when we need to be growing the economy.

The Prime Minister added: “I understand that people across our country are struggling with the cost of living and they are struggling with their energy bills.

“And that is why I, as Prime Minister will take immediate action to help people with the cost of their energy bills. And I will be making an announcement to this House on that tomorrow.

“I am giving people certainty to make sure they are able to get through this winter and be able to have the energy supplies and be able to afford it.”

The newly elected Prime Minister has also signalled a push to extract more oil and gas in North Sea to help the UK cement its energy security.

Liz Truss said: “We can’t just deal with today’s problem. We can’t just put a sticking plaster on it.

“What we need to is increase our energy supplies long term and that is why we will open up more supply in the North Sea, that is why we will build more nuclear power stations and that is why we will get on with delivering the supply as well as helping people through the winter.”