Barry warned that the government’s Energy Prices Bill, which is intended to control prices and encourage the efficient use and supply of energy, would introduce another windfall tax - but on renewables not oil and gas producers.
Speaking during the remaining stages of the Bill in the House of Commons on 17 October, he welcomed the new Chancellor’s statement announcing a Treasury-led review of the government’s energy support plan, he urged him to ditch the Investment Allowance Subsidy, which allows producers to effectively offset the temporary windfall tax, and to adopt a tax rate that the rest of the globe considers “fair and equitable”.