Mebyon Kernow – the Party for Cornwall has welcomed the news that the Conservative Government has announced an energy bill price cap for households, plus support for businesses, but criticized Liz Truss’s new administration for refusing to consider a windfall tax on large energy companies.

MK’s leadership team has issued the following statement:

“It is to be welcomed that the UK Government has concluded that it must intervene to cap energy bills, but we remain concerned that it is not seeking a windfall tax on the energy companies. It is simply wrong that the cap will be funded through borrowing and repaid by consumers in the long-term, while companies will make bumper profits because of this terrible crisis.

“Treasury estimates state that the main energy companies will make ‘£170 billion in excess profits’ over the next two years. This cannot be deemed acceptable in any modern society.”

The Tory cap has been set at an annual charge of £2,500 for the typical household for the next two years, which is significantly up from the present cap of £1,971 a year, and the pre-April figure of £1,277.

The statement from MK concludes: “We call on the UK Government to put fairness at the heart of its legislative programme and to start by introducing a windfall tax, which would allow the cap for an average household to be reduced – further safeguarding those low-income households in greatest need.”

MK‘s leadership team are Cllrs Dick Cole, Loveday Jenkin, Andrew Long and Michael Bunney.