The UK government has announced a temporary windfall tax on oil and gas giants to fund a relief package for households struggling with rising bills.
Chancellor of the Exchequer Rishi Sunak has previously resisted opposition parties’ calls for a windfall tax, warning about the impact it would have on future investment.
But he has now been forced to unveil emergency measures to tackle the impact of soaring inflation, which has reached a 40-year high.
Millions of households will receive a £400 ($504) discount off their energy bills. Around 8 million of the lowest income households will be sent a one-off payment of £650, and pensioners will receive a one-off £300 payment….