Bloomberg Tax
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Tax
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Truss Rejects New UK Windfall Tax While Sunak’s Open to the Idea

Aug. 12, 2022, 4:00 AM

Conservative leadership front-runner Liz Truss ruled out a fresh windfall tax on energy companies if she becomes prime minister, while her opponent Rishi Sunak vowed to find up to another £10 billion to help Britons pay for soaring power bills.

Truss’s comments at a hustings in Cheltenham came after Prime Minister Boris Johnson held talks with energy companies Thursday, where Chancellor of the Exchequer Nadhim Zahawi hinted that the Treasury was exploring new taxes on electricity generators.

Liz Truss
Photographer: Chris J. Ratcliffe/Bloomberg

Read more: Boris Johnson Meets Energy Firms as UK Winter Crisis Looms

Ministers would “evaluate the extraordinary profits seen in certain parts ...