Labour MP calls for windfall tax

Date: 22nd September 2008

A former government minister has called for a "Robin Hood" tax on energy companies, a BBC article has reported.

The calls follows challenges by the Trades Union Congress, which recently pointed the economy was tough for business, but tougher for families.

Delegates at the Labour Party Conference this afternoon (September 22nd) will vote on the resolution calling for the windfall tax.

MP for Oldham West and Royton, Michael Meacher, told the BBC: "There can never be a stronger case for a Robin Hood tax than now.

"Is our government on the side of big business or the fuel poor?"

The argument for windfall taxation has gathered momentum as energy firms have recorded surging profits of up to 538 per cent in the last five years on the back of rising fuel prices.

Energy companies recently agreed to provide £910 million to fund the government's home energy saving measures.

The Southern Society of Chartered Accountants today urged basic-rate tax-paying employees to check their payslips to ensure they had received a backdated amount of about £60 in personal allowance.