Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment his Department has made of the impact of a windfall tax on renewable energy generators on investment in renewable energy generation in the UK.

Within the Economy Update on 26th May, the Chancellor announced the Government is urgently evaluating the scale of extraordinary profits in the electricity generation sector and the appropriate next steps. As part of this process, Government officials are currently engaging with industry stakeholders.

The Government recognises that any measures, tax or otherwise, need to be proportionate and avoid creating undue distortion or impacts on investment in UK electricity generation.