Truss rules out windfall tax on energy companies in debut PMQs
London, Sep 7 (EFE).- Liz Truss has ruled out a windfall tax on large energy companies as a way to offset skyrocketing consumer prices during her first outing as prime minister in the weekly parliamentary debate Wednesday.
The Conservative Party leader, who replaced Boris Johnson as prime minister on Tuesday, told the House of Commons that a windfall tax on oil and gas giants would discourage business investment in the United Kingdom.
“This country will not be able to tax its way to growth,” she told the leader of the Labour Party opposition, Keir Starmer, adding that she would unveil her response to the cost of living and energy price crisis in the UK on Thursday.
Starmer claimed that energy producers were in line to take 170 billion pounds (roughly $194 billion) in extra profits over the next two years and asked Truss whether workers would foot the bill of her new plan.
The energy price and cost of living crisis is the first major challenge facing the UK’s new prime minister as inflation rates are forecast to surge to 13.1% this winter, according to the Bank of England.
Truss came to power after winning the backing of Conservative Party members.
She presides over a Tory government with an ample majority in parliament, won under the leadership of Johnson in the 2019 general election. EFE