Money guru Martin Lewis has approached Rishi Sunak and asked the chancellor about his plans to support families against rising energy bills.
Interviewing the government minister on ITV’s Martin Lewis programme, the host took aim at Mr Sunak asking him the questions many of his viewers are dying to ask.
Specifically, “Why the hell do they have to pay money back when the energy companies are posting, the biggest, record profits?”
Martin added: “Why is there no windfall tax? Why don’t you charge the energy companies for this?”
As part of a new support package announced today (3 February), the Chancellor revealed that households will receive £200 towards their electricity bills.
But the downside is that families will have to pay that money back over the next five years. Payments will be £40 per year, starting in April.
Responding to Martin, Mr Sunak said: “A lot of people watching will say that sounds really appealing, imposing a windfall tax on energy companies, doesn’t it? And it sounds superficially appealing, of course. I wish there was a simple answer like this that solved all the problems.
“I don’t think a windfall tax is the right thing to do, because it will discourage investment.”
He went on to explain that he wanted energy companies to invest in the North Sea projects and that this investment would help create jobs and benefit the wider UK economy.
What do you think of the new energy aid packages? Do you think families should be made to pay back the £200 or is a big business levy the right option? Tell us your views in the comments below.