Portsmouth MP, Stephen Morgan, has accused the government of allowing fossil fuel companies to make record profits, whilst families in Portsmouth and across the country suffer with rising bills.
In recent days it has been announced that several oil and gas giants have made record annual profits following the surge of energy prices.
After 13 years of Tory failure the government continue to hold back the country, with working people paying the price. Labour is calling for a long-term economic plan that puts working people first to get Britain back on its feet and improve living standards.
Labour is calling on Ministers to rule out any increase in the energy price cap from April and to pass on recent falls in gas prices to households. It has said that this is the only right thing to do, as energy companies continue to make windfall profits.
The party has said that not only would a Labour government establish this, but it would also ensure that prepayment meter customers do not pay more than those paying by direct debit, that off-grid households would receive equivalent support, and that funding would be made available for households in Northern Ireland – paid for by bringing in a proper one-off windfall tax on energy giants.
Labour is also calling for fuel duty to be frozen at its current rate and for a temporary three-month moratorium on the forced installation of prepayment meters.
Stephen Morgan MP, Member of Parliament for Portsmouth South, said:
‘When it comes to oil and gas interests, Rishi Sunak and the Tory government are too weak to stand up for the British people and implement a proper windfall tax.
Labour is on the side of families and working people, with a plan to tackle the cost-of-living crisis now, and a long-term plan to cut bills for good and make Britain a clean energy superpower.
The government must rule out an increase in the energy price cap in April to help protect Portsmouth households.’
To keep bills low in the long-term, Labour plans clean power by 2030 and to retrofit 19m UK homes so all are of a high standard of energy efficiency, slashing the UK’s dependence on gas imports and lowering household bills for the long-term.
