Cost of living: Conservative lawmakers welcome unexpected tax proposals as Labor prepares to amend Queen’s speech

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Conservative lawmakers are heating up on the idea of ​​an unexpected tax on energy companies to help ease living-off pressures on troubled families ahead of the Labor vote on the issue. I He understands.

Tomorrow Labor will introduce an amendment to the Queen’s speech calling for the introduction of an unexpected tax on the oil and gas giant, which will be used to help poor families.

Conservative MPs said so I They would not expect a large number of allies to rebel against the government, pointing out that it would be unusual for them to vote with Labor and against the Queen’s speech.

But he said he understands that the government is seriously considering such a policy and suggested there is growing support across the party.

two backbenchers said I They understood that the government was undecided about whether to offer something similar, despite the Prime Minister saying he was against it.

Trade Secretary Quasi Quarteng said on Sunday he would oppose the idea because it would discourage new investment.

But the Treasury refused to rule it out, with Chancellor Rishi Sunak saying last week that he was “not naturally attracted to unexpected taxes” but that “these companies are making a significant profit.”

Suggesting that he might make some kind of economic deal with these companies to avoid the formal tax, he said: “I would like to see how it works to support jobs in the UK economy, support energy security, And I want to see that investment soon. If not, no option is off the table.

A backbencher said he would consider voting for the amendment on Tuesday, but said it depends on what has been announced in the meantime.

“It rather depends on what the energy companies and the chancellor will say from now to then,” he said.

Another said he supports the policy, but is unlikely to vote in favor of the amendment, as the government is already considering it.

A third backbencher said he would vote for a backbench amendment for an unexpected fee, but could not support the official Labor motion. “I still feel that the government is now tempted by the unexpected tax,” he said.

Mel Stride, who chairs the Treasury’s select committee, said Monday he believes there is “a case” for an unexpected tax.

Conservative MP on BBC Radio 4. told today The program said it is important to have a “balanced approach” and agreed “in principle” with concerns that raising taxes would discourage investment.

But he added: “At the same time, we are in extraordinary circumstances, the extraordinary profit these companies have made is enormous.

“Personally I think it’s now a matter of looking at an unexpected one-time fee and funneling that money to the people who are really struggling and bearing the brunt of these cost challenges.”

Conservative Congressman Robert Halfon previously called for an unexpected tax to respond to the “massive” pain that rising prices are inflicting.

talking with I said Scottish Conservatives are leading domestic opposition to the measure, as they are concerned it will cost jobs, and said some of their allies have failed to understand the impact of rising gas bills and other inflation.

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