UK Expands Windfall Tax on Energy Firms to Fund Bills Cap
- Levy on oil and gas firms to rise to 35% from 25% rate
- Energy prices for consumers to be capped at higher level
Surging energy prices are stoking inflation.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Follow us at @BloombergUK and on Facebook, and wrap up your day with The Readout newsletter with Allegra Stratton.
The UK announced a windfall tax on “excess” profits of some electricity generators to help pay for the continuation of a freeze on household energy bills.