‘That’s just not right!’ Sunak erupts in heated tax clash with BBC host Nick Robinson

Rishi Sunak argues with Robinson on if he copied Labour policy

We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

Rishi Sunak defended his new economic plans for Britons living in the UK and his new business tax plans, despite pushback from the BBC host who claimed he had reversed what the former Chancellor George Osbourne laid out for businesses. The Chancellor of the Exchequer announced his £15 billion support package for the most vulnerable who have been hit the hardest by the energy price hike.  Mr Sunak also announced the highly awaited £5bn windfall tax on energy companies which some Conservative politicians have criticised.

Mr Robinson claimed that Mr Sunak was doing the wrong thing by increasing corporate taxes by 5% and it would harm businesses.

The BBC presenter said: “You say you want to incentivise business, no hold on you’ve increased business taxes!

“You’ve announced the biggest increase in corporate taxes for years by 5 percent.

“Reversing what George Osbourne did, and now you are treating business a little bit the way Jacob Rees-Mogg had warned.

“As to quote a honey pot which you can raid whenever you like.”

JUST IN: Ukraine LIVE: ‘Apologise!’ Chechen warlord threatens EU country after public humiliation

Mr Sunak: “No no! That’s just simply not right because what we announced is a new levy that as I said fairly taxes the profits.

“but also comes with a brand new investment relief which has been described as very generous.

“Because what it means is when those companies invest more they’ll pay less tax.

“We’ve doubled the amount of relief that’s available for them every pound they invest they’ll get over 90% of that back in tax relief.”

LBC caller erupts at Boris and energy firms ‘making billions profit’

The Chancellor’s new package includes a windfall tax which some politicians claim comes with consequences.

Conservative politician, Jacob Rees-Mogg told Sky News: “People need to understand that there is not a tax that you can take that is economically cost-free.

“It doesn’t matter which tax it is, it’ll have an economic consequence.

“So as long as they raise the tax, knowing that it will have an economic consequence, which the Chancellor does, then it is a matter of choosing between one form of revenue-raising and another.

“There is no non-tax way, ultimately, of spending, it is either today’s tax, or it’s tomorrow’s tax through borrowing.”

The most vulnerable have been calling for a  windfall tax on energy companies along with a new scheme to help them with the increased cost of living, as energy bills have increased dramatically and are set to rise again.

DON’T MISS
Rishi Sunak energy bill help: How much money YOU could save [EXPLAINER]
Remoaner claims ‘Boris hates Treasury’ as he brands Brexit ‘mistake’ [REPORT]
“Can’t trust a word”: Nandy slams Johnson’s promised policies [INSIGHT]

Mr Robinson claimed that Mr Sunak was doing the wrong thing by increasing corporate taxes by 5% and it would harm businesses.

During Mr Sunak’s statement to the Commons, he also announced an energy bills discount loan of up to £200 which will be doubled to £400.

And the loan to help with energy bill increases, will not need to be paid back to the Government.

The relief package  Mr Sunak is offering to Britons is aiming to discount their energy bills from the Autumn of October 2022.

Labour MPs have reacted positively to the announcement, as this windfall tax has been pushed for and back by the opposition party over the past few months.

Labour MP Rachel Reeves Tweeted: “Finally, the Chancellor adopts Labour’s plan for a windfall tax on oil & gas profits to lower bills. Today’s statement is the Tory government all over: out of touch with no plan for the future. There’s no doubt about who is winning the battle of ideas in Britain – it is Labour.”

Ms Reeves Tweeted: “Good it seems the Chancellor is finally being dragged kicking & screaming to a U-turn, and four months late adopting Labour’s call for a windfall tax on oil & gas producer profits. Why has it taken so long? Why have families had to struggle and worry while he dragged his feet?”

Source: Read Full Article