Campaign and petition email responses

Windfall Tax on Banks

My SNP colleagues and I consistently argued for a fairer approach to the Tories' recent Windfall Tax Bill, including extending it to other industries but the Tories voted this down.

We are aware of the frankly terrifying effects of inflation on people’s businesses and lives. The UK Government’s lack of absence, stepping away from the rudder last year for months of internal leadership drama is incredible and appalling.

It is hard to see how the UK Government can justify cutting taxes on banks at a time when the public finances are in such dire straits, and we will continue to hold to account.

The SNP Scottish Government continues to mitigate the inaction by the Tory government, but Holyrood’s powers are limited. The powers and resources needed to tackle this emergency on the scale required - access to borrowing, welfare, VAT on fuel, taxation of windfall profits, regulation of the energy market - lie with the UK Government. My colleagues and I continue to urge the UK Government to use all these powers and fiscal headroom at its disposal.