The Government should set a maximum price that companies which draw fossil fuels from UK waters can sell it at to the wholesalers who supply the UK market. This should allow the companies to still earn profits, but not at extreme levels. Compromise is required.
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Emergency laws to control the price of essentials such as wheat and food oils are being used by other countries in times of need, so we need to do the same to protect our most vulnerable. A one-off windfall tax is just that, a one-off. We need a longer-term plan to support UK citizens.