Clearly some governments are trying to help their people through the energy crisis.
Let’s see what Mistrust has in her locker. The Tories have often said that they won’t impose windfall taxes as it could stop companies making future investments in the UK. The threat of losing “future investment” hasn’t stopped other governments from imposing windfall taxes.
“GERMANY has unveiled £54billion of support for families facing rocketing fuel costs.
Announcing the rescue plan, Chancellor Olaf Scholz, below, told citizens: “You’ll never walk alone.”
The Kremlin is yet to reopen the key Nord Stream 1 gas pipeline to Germany after it was shut for three days of maintenance.
Critics have accused Vladimir Putin of holding Europe hostage over fuel supplies, with Berlin forced to cut its reliance on Russian fuel.
Mr Scholz said: “Germany will come through this as a democracy because we are very economically strong and we are a welfare state –the two together are important.”
The €67bn package, which is bigger than two earlier efforts, will include one-off payments to the most vulnerable, such as pensioners, people on benefits and students.
There are also £1.47bn of tax breaks for about 9,000 firms which use vast amounts of energy.
There will also be caps on energy bills, partly funded through a windfall tax on energy company profits.
Households will be allowed a limited amount of discounted power but must pay higher prices for extra electricity they use. Mr Scholz, who became German leader last December after Angela Merkel quit, admitted Russia was “no longer a reliable energy partner”.
He insisted Germany would get through the winter.
Other European governments also pledged help in recent weeks.
Italy hiked taxes on energy firms whose profits have ballooned, so Rome could unveil a £12bn plan meaning families’ bills will remain around 2021 levels.
Other measures include a €200 (£169) one-off payment to people earning €35,000 (£29,600) a year or less, and a 20% tax credit for all energy-intensive companies hit by a 30% price spike.
Spain cut VAT on energy bills from 21% to 10% and temporarily slashed special tax on electricity from 7% to 0.5%. The measures were funded by a £2.5bn windfall tax on energy companies.
Weeks before Putin’s invasion of Ukraine in February, France forced state-owned energy giant EDF to cap wholesale price rises to 4% for a year at a cost of £7bn.
Paris announced a one-off €100 payment last year to 5.8 million families receiving energy vouchers.”