Ashden responds to the UK government‘s announcement of a windfall tax on energy firms that could raise around £5bn, part of a £15bn package of support for households struggling with the cost of living crisis.
Introducing a windfall tax at this time is an ethical and financial ‘must’ and we welcome the government announcement. With the urgent need to reduce the cost-of-living crisis, this windfall tax is a no-brainer.
But for real impact the government needs to be much bolder – the UK should be ploughing money into investments that will rapidly reduce prices for struggling families and reduce emissions for a struggling planet. Embarking on a massive nation-wide retrofit campaign that is designed to help the poorest of this country, is the second ‘must’.
A national retrofit programme will boost local businesses, create new jobs in every corner of the country and support the government’s net-zero and levelling-up targets. Supporting retrofitting is the obvious choice – it will quickly turn cold, damp, homes with high fuel bills into warm, insulated, cheaper-to-run homes.
Ashden work with many organisations focusing on renewable energy, energy efficiency and retrofit of buildings in the UK which is where some of the most extensive, immediate and rapid decarbonisation could happen.
