The Labour MP for Selly Oak, Steve McCabe MP was in parliament today to hear the newly appointed Prime Minister, Liz Truss, address the House of Commons for the first time on energy prices during her first Prime Minister’s Questions today.
Liz Truss is expected to announce her response to soaring energy bills tomorrow, which Selly Oak constituents have been struggling with for far too long already. The scale of this crisis will require significant government intervention. This support appears as though it will come in the form of a price freeze, a policy first proposed by the Labour Party. However, it is unclear who the Prime Minister expects to pick up the bill for her policy.
Steve McCabe MP backed Labour’s idea of an energy price freeze but expressed concern at the reluctance of the Prime Minister to enact a windfall tax on energy companies as proposed by Labour. Steve has argued that the focus should be on pensioners and families.
Speaking on the issue, Steve McCabe MP said:
“Astonishingly today, she ruled out a windfall tax on oil and gas companies despite their excess profits being £170bn next year, and she promised further tax cuts in corporation tax.”