SNP suggest Labour’s plans to raise windfall tax on energy companies will cost jobs
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SNP leader in the House of Commons leader suggests that Labour’s windfall tax plans will be detrimental for Scottish energy jobs.
Appearing on Good Morning Scotland today, Stephen Flynn suggested that Labour’s plans to increase the windfall tax on the excess profits made by energy companies could lead to a loss of 100,000 jobs.
The current rate of windfall tax is set at 75%, with Labour proposing to raise it to 78% and extend it 2029.
Speaking on GMS, Stephen Flynn said: “What Labour are proposing will make things worse because what they want to do is create a cliff edge in the oil and gas sector that could leave tens of thousands of people without a job, up to 100,000 people.”
“It would leave us importing more energy than we currently do and would currently stick up bills during a cost of living crisis.”
Labour have come under consistent fire recently after they have increasingly weakened their pledge to invest £28bn in green energy if they’re elected drawing some criticism about their commitment to green investment.
Labour have suggested that they would spend the money raised from the tax increase on the development nuclear which Flynn lambasted as a waste of money and only beneficial England.
