THE CHANCELLOR should use extra taxes raised as a result of the rising cost of living to mitigate its impacts on the public, MPs have said.
The SNP is to hold an opposition day debate today and will directly call for Rishi Sunak to implement a “windfall tax” on big companies which may be making large profits due to the soaring costs of energy, food and fuel.
The calls come a week before the Spring mini-budget, in which Mr Sunak will set spending plans for the next year.
Aberdeen South MP Stephen Flynn will lead the debate and say it is “absolutely essential that the Chancellor stops making excuses and delivers a comprehensive package of support without further delay”.
He will suggest Amazon is one company made subject to the windfall tax, as well as others which made “excess profits” in the pandemic and energy crisis.
Speaking ahead of the debate, Mr Flynn said: “Millions of families face a devastating blow to incomes as the Tory cost of living crisis spirals out of control. With a week until the spring budget, it’s absolutely essential that the Chancellor stops making excuses and delivers a comprehensive package of support without further delay.
“This Westminster crisis has been a decade in the making, with a toxic combination of Tory cuts, Brexit and a failure to invest in renewable energy costing the economy billions, stagnating wages, decimating social security, and leaving the UK completely exposed.
“It is vital that the UK government now reverses the damage it has caused by ditching the regressive National Insurance tax hike, reversing the £1040 Tory cuts to Universal Credit, matching the Scottish Child Payment UK-wide, introducing a Real Living Wage, and slashing energy bills by cutting VAT and giving households grants.”
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