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Daily Record
Daily Record
Politics
Paul Hutcheon

Nicola Sturgeon says energy giants should "absolutely" pay more to help cost of living crisis

Hugely profitable energy firms should “absolutely” be paying more tax to help with the cost of living crisis, according to the First Minister.

Giving cautious support for a windfall tax, Sturgeon said the UK Government should be “looking at options like this”.

Labour have pushed for oil and gas giants to be hit with a one off tax due to the massive profits being made.

BP posted a $12.8 billion profit for 2021 on Tuesday, while Shell had earlier reported profits of $19 billion.

It comes at a time when people across the UK face a near £700 increase in their energy bills.

In a broadcast interview, Sturgeon said any windfall tax proposal would have to be "fair", adding that "we don't want to see the north east of Scotland bearing the brunt of what we need to do to deal with the cost of living crisis".

But she added: "I want the chancellor and the UK government to be looking at all options.

"The principles that are important are that those with the broadest shoulders should contribute most, and companies that - whether it's because of the global increase in gas prices or some of the pandemic effects we've seen - are making increased profits at a time when ordinary people are struggling, they absolutely should be looked to to make contributions."

Sturgeon’s comments come after SNP MPs failed to vote for the Labour plan at Westminster last week.

The Scottish Greens, who share power with the SNP in the Scottish Government, back a windfall tax.

In the Commons on Wednesday Labour leader SirKeir Starmer branded the Government’s energy bills discount announcement a “dodgy loan, not a proper plan”.

He said: “Talking of scams, households are going to have to fork out an extra £19 billion on their energy bills. The Government is insulting people’s intelligence by pretending it’s giving them a discount, but it’s not, it’s a con. A buy now, pay later scheme, a dodgy loan, not a proper plan."

He added: “When his donors give him cash to fund his lifestyle and tell him he has to pay it all back later, are they giving him a loan or a discount?”

Boris Johnson replied: “Our plan to tackle the cost of living is faster, more efficient and more generous than anything that they have set out.

“It’s £9.1 billion, huge sums that we’re using to help people across the country and the only reason we can afford it is because we have a strong economy, the fastest growing in the G7.”

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