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| Version 3 | Version 4 |
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| MPs call for energy windfall tax | MPs call for energy windfall tax |
| (about 2 hours later) | |
| Prime Minister Gordon Brown is facing mounting pressure from Labour MPs for a one-off windfall tax on energy firms who have recorded huge profits. | Prime Minister Gordon Brown is facing mounting pressure from Labour MPs for a one-off windfall tax on energy firms who have recorded huge profits. |
| More than 80, including some ministerial aides, have urged him to use the money generated to help poorer families struggling to pay their bills. | More than 80, including some ministerial aides, have urged him to use the money generated to help poorer families struggling to pay their bills. |
| Pressure group Compass expects more MPs to sign its petition after the recess. | Pressure group Compass expects more MPs to sign its petition after the recess. |
| The government has played down the idea. Energy firms say a profits "raid" could jeopardise investment. | The government has played down the idea. Energy firms say a profits "raid" could jeopardise investment. |
| 'Not ministers' | |
| The prime minister's spokesman said: "The position on tax is a matter for the chancellor and the Treasury. The Treasury receives a whole range of representations and of course will consider such representations in the normal way." | |
| Seventy five Labour MPs have publicly signed the Compass petition but the left-leaning think tank says there are more than 80 - as some signed after its website was last updated and others chose to remain anonymous. | |
| FROM THE TODAY PROGRAMME More from Today programme | |
| Among signatories are Stephen Pound, aide to welfare minister Stephen Timms, and Rob Marris, aide to Northern Ireland Secretary Shaun Woodward, who suggested to the Times that he would consider quitting if there was no change in policy. | |
| But the prime minister's spokesman said: "What matters is the view of Treasury ministers. They are not ministers." | |
| The government has previously said it is "looking at" all options but, while a windfall tax has not been ruled out, it is understood the prime minister is looking at an alternative levy on carbon emissions. | |
| Labour MP Clive Betts, who is among those who have signed the petition, told BBC Radio 4's Today programme there was "overwhelming" support for a one-off tax among his parliamentary colleagues and the public. | Labour MP Clive Betts, who is among those who have signed the petition, told BBC Radio 4's Today programme there was "overwhelming" support for a one-off tax among his parliamentary colleagues and the public. |
| 'Astronomical' increases | |
| He said companies were looking at more than 30% increases in their profits, adding: "They are simply going to make much more money for doing absolutely nothing." | |
| "I think it's reasonable for people to say 'Why should the wages and salaries and bonuses of the executives of these companies, which will be linked to their profits and their share prices, go up astronomically while the ordinary person in the street is seeing their wages go up by 2% ... and their energy bills going up by 30%?'" | "I think it's reasonable for people to say 'Why should the wages and salaries and bonuses of the executives of these companies, which will be linked to their profits and their share prices, go up astronomically while the ordinary person in the street is seeing their wages go up by 2% ... and their energy bills going up by 30%?'" |
| Earlier this month, Business Secretary John Hutton said Chancellor Alistair Darling had some "very difficult calls" to make. | Earlier this month, Business Secretary John Hutton said Chancellor Alistair Darling had some "very difficult calls" to make. |
| Every £1m you take out of each company through this legalised raid is £1m they have to raise elsewhere David PorterAssociation of Electricity Producers | |
| But he said the UK must be wary of any "fiscal" or "regulatory" changes to the energy sector that could prompt investors to go elsewhere. | But he said the UK must be wary of any "fiscal" or "regulatory" changes to the energy sector that could prompt investors to go elsewhere. |
| David Porter, chief executive of the Association of Electricity Producers, said a windfall tax on firms' profits could break the trust between government and industry and mean more investors head abroad. | David Porter, chief executive of the Association of Electricity Producers, said a windfall tax on firms' profits could break the trust between government and industry and mean more investors head abroad. |
| He said firms were not making "excessive" profits, only putting prices up when they had to, and had to invest £100bn in new power stations over the next 11 years . | He said firms were not making "excessive" profits, only putting prices up when they had to, and had to invest £100bn in new power stations over the next 11 years . |
| "A legalised raid on the company's bank accounts - that would be very unhelpful because it would scare off investors and also could make the cost of investment much higher and, in the end, that would end up on the customers' bills," he said. | "A legalised raid on the company's bank accounts - that would be very unhelpful because it would scare off investors and also could make the cost of investment much higher and, in the end, that would end up on the customers' bills," he said. |
| "Every £1m you take out of each company through this legalised raid is £1m they have to raise elsewhere." | "Every £1m you take out of each company through this legalised raid is £1m they have to raise elsewhere." |
| Labour MP Lindsay Hoyle has also started a Commons motion calling for a windfall levy on energy companies to be used to boost the winter fuel payment for pensioners. It was signed by 38 MPs, before they left for summer recess. | |
| The "big three" energy firms - Shell, BP and British Gas - have recently posted substantial profits. | The "big three" energy firms - Shell, BP and British Gas - have recently posted substantial profits. |
| Shell made £4bn in the second quarter of this year, up 4.6% from 2007, while BP made £3.4bn, a rise of 6%. | Shell made £4bn in the second quarter of this year, up 4.6% from 2007, while BP made £3.4bn, a rise of 6%. |
| Centrica, which owns British Gas, made £992m in the first half of this year, while raising prices for customers by 35%. | Centrica, which owns British Gas, made £992m in the first half of this year, while raising prices for customers by 35%. |