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Evening Standard
Evening Standard
World
David Bond

Act now or face windfall tax, warns minister

Chief Secretary to the Treasury Simon Clarke says energy costs present a “challenging situation” (Aaron Chown/PA)

(Picture: PA Wire)

A Treasury minister on Monday ordered energy giants to boost their UK investment plans “in short order” or risk a windfall tax.

Sparking speculation there could be a government U-turn within weeks, Simon Clarke, the Chief Secretary to the Treasury, said nothing was off the table in response to questions on whether ministers would introduce a one-off levy to fund more support to ease the cost of living crisis.

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