UK Labour Leader Pledges to Freeze Energy Bills by Extending Windfall Tax

UK Labour Leader Pledges to Freeze Energy Bills by Extending Windfall Tax
Labour leader Sir Keir Starmer delivers a speech on Labour’s plans for growing the UK economy in Liverpool on July 25, 2022. Danny Lawson/PA Media
Alexander Zhang
Updated:

Britain’s main opposition Labour Party has announced plans to freeze household energy bills, which it said would be paid for in part by an extension of a windfall tax on oil and gas companies.

Labour leader Sir Keir Starmer said the plan would freeze the energy price cap at its current level of £1,971 ($2,377), saving the average household £1,000 ($1,200).