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Archibald to tell Hunt to hike taxes on energy companies

14 November, 2022 - by Caoimhe Archibald

Sinn Féin MLA Caoimhe Archibald has said small businesses need support with rising bills and said an Executive is needed now to help support them. 

The party's economy spokesperson is writing to the British Chancellor today making it clear that there must be a Windfall Tax to cut the profits of energy giants. 

Caoimhe Archibald said: 

“Our businesses are struggling to pay their bills as costs continue to rise and the price of keeping the heat and lights on remains unaffordable. 

“The British government needs to step up and cut costs for businesses by reducing taxes on fuel and slashing VAT on energy bills, and also reinstating the reduced rate of VAT for our bars, restaurants and other businesses that had it during the pandemic. 

“I will be writing to the British Chancellor to make it clear that he must put a Windfall Tax on energy giants who are walking away with eye-watering profits on the back of ripping people off with energy prices and crippling our small, family-run businesses in the process. 

“He must also ensure that energy companies are now reducing their tariffs in line with the energy scheme brought in last month so that businesses start to see their bills going down.

“Our businesses need an Executive up and running and ministers in place making decisions to help protect jobs and keep the shutters up. 

“Earlier this year, Conor Murphy as finance minister guaranteed a rates holiday of least one month for businesses and has begun preparations for how an incoming Executive could support people with their rates.  

“Sinn Féin wants to form an Executive to support workers, families and businesses through the cost living and doing businesses crisis. The DUP should end its cruel boycott and work the rest of us to make a difference.”

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