U.K. Prime Minister Liz Truss has ruled out a windfall tax on oil companies to pay for her plans to tackle the energy crisis, but will end the UK's fracking ban.
Former foreign policy adviser under Margaret Thatcher Nile Gardiner discusses Prime Minister Liz Truss’ plans to combat the European energy crisis.told Parliament on Wednesday that she would tackle Britain’s "very serious" energy crisis while still slashing taxes, ruling out imposing a windfall levy on oil companies to pay for her plans to offset the soaring cost of heating and electricity.
"This country will not be able to tax its way to growth," she said, to thunderous cheers from Conservative lawmakers in a packed House of Commons.Treasury chief Rishi Sunak Opposition Labour Party leader Keir Starmer said that amounted to handing billions to energy firms that have pocketed hefty profits because of high energy prices. Instead, the cost of price relief will have to be paidNEW UK PRIME MINISTER LIZ TRUSS ‘WON'T BE AFRAID’ OF PICKING A FIGHT WITH BIDEN, EXPERTS SAY
New British Prime Minister Liz Truss arrives to make an address outside Downing Street in London Tuesday, Sept. 6, 2022, after returning from Balmoral in Scotland where she was formally appointed by Britain's Queen Elizabeth II.
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Liz Truss Becomes Britain's New Prime MinisterTruss took office Tuesday afternoon at Balmoral Castle in Scotland, when Queen Elizabeth II formally asked her to form a new government in a carefully choreographed ceremony dictated by centuries of tradition. — The Associated Press
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