Energy Price Freeze

Nic Dakin Excerpts

Wednesday 6th November 2013 Commons Chamber

[Caroline Flint]

My hon. Friend is right. I think that the former Prime Minister, Margaret Thatcher, also imposed a windfall tax on oil and gas. The truth is that when the market is not working it is important for Governments to step in, because failing markets do not provide competition or the security that people want from the energy sector. We all agree that these things, whether energy or water, are essential to life and that we all need them. In that situation, people expect Governments to step in and ensure that the market is fit for purpose.

[Nic Dakin (Scunthorpe) (Lab)]

Is not it interesting that the previous Conservative who won a general election, Sir John Major, recognises the need to do something, which is why he has urged a windfall tax on this occasion?

[Caroline Flint]

In his wide-ranging speech, the former Prime Minister expressed his concern about Governments being out of touch with the public, whether on energy or the cost of living. He suggested a windfall tax, but we want something that goes straight to consumers, which is why we think the price freeze is the right way ahead.