Labour pledge to ‘extend’ windfall tax to protect families from soaring energy bills
Labour has pledged to extend the windfall tax on energy companies if they were to get into government, in a bid to help families from further increasing bills in April.
In a speech at the Fabian Society Conference today, shadow chancellor Rachel Reeves is expected to urge the government to stop the energy price cap rising this spring and warn that millions are under threat by the move.
The government has confirmed that, from April, energy bills will typically rise to £3,000 – while support offered to many individuals will become less generous as ministers try to grapple with the country’s finances.
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Ms Reeves is expected to say that the government is “underprepared” for the hardship that rising bills will cause many households resulting in a “crisis”.
Setting out Labour’s plan to ease the cost of living burden, she will say a Labour government would introduce a tougher windfall tax on energy companies.
The party argues this would help stop the energy cap rising by generating £13bn across 2022 and 2023.
Ms Reeves is expected to say that alongside a freeze on fuel duty, there should be a three-month moratorium on the forced installation of pre-payment meters.
While Labour would also introduce a new fund to “jump start” insulation.
“Millions of households are still looking to a 40% increase in their energy bills, in April,” Ms Reeves will tell the conference.
“On a week when temperatures fell below zero, I know many families and pensioners will be feeling the pressure particularly acutely.
“And at the same time, energy companies continue to enjoy record profits. That cannot be right.”
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‘UK lurching from crisis to crisis’
Ms Reeves will outline Labour’s plans for off-grid households to be offered equivalent support, with funding available for Northern Irish households too.
She will also set out her party’s long-term strategy of reaching 100% clean power by 2030 and retrofitting millions of homes.
Labour say this could save households £1,400 a year.
Read more: What’s a windfall tax, how much do oil companies already pay, and has UK tried it before?
“Sticking plaster politics is not enough”, Ms Reeves will say.
“We cannot persist with walking into a crisis unprepared, and at the last minute producing hugely expensive fixes to get us through, while the underlying problems – those weakened foundations – remain untouched.”
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She will say: “We would hold to that most basic of principles.
“That those who have profited from the windfalls of war should shoulder their share of the cost, so ordinary people do not have to bear the brunt of a crisis that they did not cause.
“We will extend the windfall tax, closing the fossil fuel investment loophole, and taxing oil and gas profits at the same rate as Norway.
“By backdating this from the start of 2022 – when oil and gas giants were already making historically large profits – we can raise more than £13bn.”
Donald Trump’s Middle East envoy has met Israel’s prime minister in an effort to secure a ceasefire deal in Gaza before the president-elect takes office on 20 January.
Benjamin Netanyahu’s office confirmed details of the meeting with Steve Witkoff on Saturday, adding that the head of the Israeli Mossad intelligence agency has been deployed to Qatar in order to “advance” talks.
It was not immediately clear when David Barnea would travel to Doha for the latest round of indirect discussions between Israel and Hamas.
Earlier on Saturday, an Israeli official said some progress had been made, mediated by Egypt, Qatar and the United States, to reach a deal in Gaza.
Ronen Bar (left), director of Israel’s security agency, and David Barnea (right), head of Mossad, at a ceremony marking the 7 October Hamas attack. File pic: Reuters
The mediators are making renewed efforts to halt fighting in Gaza and free the remaining Israeli hostages held there before Mr Trump takes office.
A deal would also involve the release of some Palestinian prisoners held in Israeli jails.
Families of Israeli hostages welcomed Mr Netanyahu’s decision to dispatch the officials, with the Hostages and Missing Families Forum Headquarters describing it as a “historic opportunity”.
Mr Witkoff arrived in Doha on Friday and met the Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani, Qatar’s foreign ministry said.
Egyptian and Qatari mediators received reassurances from Mr Witkoff that the US would continue to work towards a fair deal to end the war soon, Egyptian security sources said, though no further details were released.
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Israel launched its assault on Gaza after Hamas fighters stormed across its borders in October 2023, killing 1,200 people and taking more than 250 hostages, according to Israeli figures.
Families of the roughly 100 hostages still held in Gaza are pressing Mr Netanyahu to reach a deal to bring their loved ones home.
Since then, more than 46,000 people have been killed in Gaza, according to Palestinian health officials, with much of the area destroyed and gripped by a humanitarian crisis, with most of its population displaced.
Pope Francis has been honoured with America’s highest civilian award by President Joe Biden, who has described the pontiff as “a light of faith, hope, and love that shines brightly across the world”.
It is the first time Mr Biden, 82, has given the Presidential Medal of Freedom with Distinction during his four years in office.
In a statement, the White House said the award is “presented to individuals who have made exemplary contributions to the prosperity, values, or security of the United States, world peace, or other significant societal, public or private endeavours”.
Mr Biden had been scheduled to present the medal to Pope Francis, 88, in person on Saturday in Rome on what was to be the final overseas trip of his presidency. But the president cancelled his visit to monitor the California wildfires.
The White House said Mr Biden bestowed the award during a phone call in which they also discussed efforts to promote peace and alleviate suffering around the world.
President Joe Biden presented Bono with the Presidential Medal of Freedom. Pic: AP
Denzel Washington was also recognised. Pic: AP
Michael J Fox was bestowed with the honour. Pic: AP
The award can be presented with or without distinction.
Mr Biden presented the medal of freedom – without distinction – on 5 January to several people including fellow Democrat Hillary Clinton, humanitarian and U2 singer Bono, fashion designer Ralph Lauren and actors Michael J Fox and Denzel Washington.
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Mr Biden himself is a recipient of the award with distinction, recognised when he was vice president by then president Barack Obama in a surprise ceremony eight years ago.
Barack Obama presented Joe Biden with the Presidential Medal of Freedom with Distinction in 2017. File pic: AP
The citation for the pope’s honour said his “mission of serving the poor has never ceased”.
“A loving pastor, he joyfully answers children’s questions about God. A challenging teacher, he commands us to fight for peace and protect the planet. A welcoming leader, he reaches out to different faiths,” it added.
Ukraine has captured two North Korean soldiers fighting in Russia’s Kursk region, President Volodymyr Zelenskyy has said.
The injured pair are now in Kyiv and communicating with the Security Service of Ukraine, the country’s domestic intelligence agency, he said.
Ukrainian special forces and paratroopers captured the North Koreans, Mr Zelenskyy said in a post on X.
“As with all prisoners of war, these two North Korean soldiers are receiving the necessary medical assistance,” he said.
“I have instructed the Security Service of Ukraine to grant journalists access to these prisoners.
“The world needs to know the truth about what is happening.”
Mr Zelenskyy said capturing the soldiers alive was “not easy”. He also claimed Russian and North Korean forces fighting in Kursk have tried to conceal the presence of North Korean soldiers, including by killing wounded comrades on the battlefield to avoid their capture and interrogation by Ukraine.
The post included images of the two men – one with a bandage around his jaw and the other around both hands and wrists – and what appeared to be a Russian military document.
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Ukraine’s security service SBU on Saturday provided further details.
It said one of those detained had no documents at all, while the other had been carrying a Russian military ID card in the name of a man from Tuva, a Russian region bordering Mongolia.
“The prisoners do not speak Ukrainian, English or Russian, so communication with them takes place through Korean translators in cooperation with South Korean intelligence,” a statement said.
One of the soldiers claimed he had been told he was going to Russia for training, rather than to fight against Ukraine, according to the SBU.
The agency added both men are being provided with medical care in line with the Geneva Conventions, and investigated “in cooperation with South Korean intelligence”.
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North Korean regular troops entered the war on Russia’s side in October, according to Ukraine and its Western allies.
US, South Korean and Ukrainian intelligence assessments suggest up to 12,000 North Korean combat troops have been sent by Pyongyang under a pact with Moscow.
They believe North Korea has also been supplying Russia with vast quantities of artillery shells.
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