Closed petition Introduce a permanent 20% energy company profit tax, and abolish VAT on energy

Closed on 20 August 2023

To pass legislation at the next Budget that ALL energy companies must pay a 20% windfall tax on all their profits and that VAT on energy should be removed to reduce costs to households and businesses, and the costs to the wider economy when businesses fail.

At present energy companies are making billions and as we clearly saw today £3.3 billion profit from one company alone - not all that profit is reinvested and bonuses for senior directors and CEOs do not represent the image of caring for either our environment or the public.

Companies are closing due to high energy bills, leading to unemployment and increasing the burden on the welfare state. People are having to make the choice of paying bills or buying food.