UK announces tax for the energy sector

The UK government announced that it will apply a package of approximately 19,000 million dollars in order to help households meet the costs of living.

Under the effect of the economic reactivation after the confinements and the spike in energy prices due to the war in Ukraine, the United Kingdom registers a record inflation in the last 40 years, of 9 % in April and which should far exceed 10 % at the end of the year.

The opposition sector had long been requesting the government of Boris Johnson to apply a special tax to help families face energy bills.

After rising almost 55 % in April, the legal ceiling for rates is due to rise again in October and the British electricity authority, Ofgem, warned on Tuesday that it would be around 42 %, that is, about 1,000 dollars, more per year per household.

Despite the situation, the prime minister had been opposed to applying this tax, his main reason being the energy giants themselves, since it could undermine investment in renewable energy and the transition to carbon neutrality.

K. Tovar

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Source: Bancaynegocios