Rushcliffe Lib Dems back “Robin Hood tax” on energy giants to support families with heating bills

The Secretary of State for Energy Kwasi Kwarteng should back the Liberal Democrats call for a "Robin Hood" tax on the huge profits of oil and gas firms, to raise money to support local families facing soaring energy costs.

The proposed one-off levy could raise over £5 billion to help support families in Rushcliffe as their energy bills soar.

The Liberal Democrats say the money raised through this "one-off" tax could fund a substantial package of emergency support to help thousands of people facing higher bills.

This would include doubling the Warm Homes Discount and extending it to all those receiving Universal Credit or Pension Credit, giving many households in Rushcliffe £300 each off their heating bills this year.

The party is also calling for the winter fuel allowance to be doubled, benefitting pensioners in the area and helping them keep their homes warm. On top of this, funding would be spent on helping people insulate their homes to slash heating bills in the long term.

Liberal Democrat spokesperson Cllr Vicky Price said:

"It can't be right that a few energy firms are making millions from record gas prices while people can't even afford to heat their homes as the cost-of-living crisis hits hard. Excessive profits being made by oil and gas companies, include the boss of BP describing the company as a "cash machine" after soaring oil and gas prices boosted its profits to £2.4 billion in the third quarter of 2021 alone.

"A one-off Robin Hood tax on gas and oil bosses would provide vital funding to support families in our area who are facing crippling energy price hikes.

Since 2015 the Conservatives have scrapped zero carbon standards for new homes and failed to insulate the millions of energy efficient homes. For years the Conservatives have ignored this problem and failed to take the bold action we need to reduce fuel poverty. The Government cannot look the other way any longer while families struggle to get by."

Vicky Price, Liberal Democrat Councillor for Musters Ward - Rushcliffe Borough Council