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Fuel Poverty Looms For Many as UK Wavers on Windfall Tax Plan

May 22, 2022, 12:22 PM

A windfall tax on UK energy company profits would come with “costs,” a top Cabinet official said, highlighting divisions among Prime Minister Boris Johnson’s allies over steps that could ease the country’s cost-of-living crisis.

Nadhim Zahawi’s comments on Sunday came as the chief executive of a major UK energy supplier warned that millions of households risk falling into “energy poverty,” and a think-tank said lower-income families are bearing the brunt.

Chancellor Rishi Sunak favors a variable windfall tax that would charge different rates to energy companies -- whose profits are soaring thanks to the jump in oil and ...