Skip to content

Truss Rejects New UK Windfall Tax While Sunak’s Open to the Idea

  • Tory front-runner says it ‘sends wrong message to investors’
  • Sunak: government would probably raise more from energy levy
An electricity transmission tower near a residential housing estate in Rayleigh, UK.

An electricity transmission tower near a residential housing estate in Rayleigh, UK.

Photographer: Chris Ratcliffe/Bloomberg
Updated on

Conservative leadership front-runner Liz Truss ruled out a fresh windfall tax on energy companies if she becomes prime minister, while her opponent Rishi Sunak vowed to find up to another £10 billion to help Britons pay for soaring power bills.

Truss’s comments at a hustings in Cheltenham came after Prime Minister Boris Johnson held talks with energy companies Thursday, where Chancellor of the Exchequer Nadhim Zahawi hinted that the Treasury was exploring new taxes on electricity generators.