RISHI Sunak last night told energy bosses they have to invest in new power stations and wind farms or they will face a windfall tax.
Rishi Sunak hinted he might be willing to look at a windfall tax on energy firms[/caption]
Instead he said the country should wait until the autumn, when prices are expected to rise AGAIN.
In his toughest warning to energy bosses yet, Mr Sunak did not rule out whacking them with a new tax.
He told Mumsnet: “If we don’t see that type of investment coming forward, and if the companies are not going to make those investments in our country and in our energy security, then of course, that’s something I would look at.
“Nothing is ever off the table.
“But right now, what I believe the right thing to do is to encourage those companies to invest so we have more energy security and support the economy.”
Mr Sunak is under massive pressure to cough up more cash to help families with the cost of living crisis.
Families are being clobbered by an eye-watering 54 per cent increase in the price cap this month.
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While inflation has rocketed to 7 per cent – and could go higher.
But the Chancellor dismissed calls to give a new bailout to ease the bills pain.
He said: “Now I know people are anxious about this and wondering if they are going to go up even more, and I have always been clear from the beginning we will see what happens.
“And depending on what happens to bills then, of course, if we need to act and provide support for people, we will.
“But it would be silly to do that now or last month or the month before when we don’t know exactly what the situation in the autumn will be.
“So I’d say we’ll see where we are with that if we need to do more.”