The shadow chancellor is calling for a "proper windfall" tax on the profits of energy companiesEnergy firms are making "war profits" from the surge in oil and gas prices following Russia's invasion of Ukraine, the shadow chancellor has said.Last year, the government introduced a windfall tax on profits made from extracting oil and gas in the UK to help fund a scheme to lower bills.
"Those are the windfalls of war, they should be taxed properly, to help people with a cost-of-living crisis," she added. "Those are not profits because of the great ingenuity of the companies... that money should go into helping families with their energy bills and helping businesses who have also seen their bills go up."
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