PRESS RELEASE: Conservative MP for Guildford, Cranleigh and our villages slammed for voting against Windfall Tax on oil and gas companies

May 18, 2022 5:37 PM

Guildford Liberal Democrats
Contact: Zöe Franklin
EMBARGO: Immediate

  • As inflation soars to 9%, last night Conservative MPs in Parliament voted against a tax on the record profits of oil firms AR voting windfall

  • Local Liberal Democrat candidate calls for tax cuts and energy bill support to help families in Guildford, Cranleigh and our villages through the cost of living crisis

Last night, Conservative MPs, including the MP for Guildford, Cranleigh and our villages, voted against a Windfall Tax on oil and gas companies to help people with their energy bills.

Despite 248 MPs voting in favour of the one-off tax on the record profits of multinational oil firms, the Conservative MP for Guildford, Cranleigh and our villages did not show their support for the proposal.

Analysis by the Liberal Democrats has found a Windfall Tax on Shell and BP alone would have raised a staggering £10bn in the first quarter of this year, enough to slash energy bills for millions of people.

Guildford Liberal Democrats have criticised the local Conservative MP for backing tax rises and failing to help people with the cost of living crisis.

The Liberal Democrats are calling for VAT to be cut from 20% to 17.5% for just one year, saving the average family £600 over 12 months.

Zöe Franklin, Liberal Democrat Parliamentary candidate for Guildford Cranleigh and our villages said:

"It was shameful to see the local Conservative MP vote against helping people in our area with soaring energy bills. How is it fair that oil and gas companies make record profits at our expense?

"This Conservative Government clearly cares more about the profits of gas companies than struggling people in our communities.

"Boris Johnson has abandoned families and pensioners who are on the brink as the cost of living crisis worsens. All we've had from Mr Johnson is unfair tax hikes and empty promises on helping people. Instead, the Government should be slashing taxes so that people can cope with day-to-day necessities.

Leader of the Liberal Democrats Ed Davey MP said:

"The oil companies are raking in billions off the backs of families and pensioners. The country is crying out for a windfall tax and can't understand why Ministers won't budge.

"With a winter of discontent looming on the horizon, this cost of living crisis is only going to get worse, and the public will never forgive Ministers and Conservative MPs for refusing to save them."

ENDS

NOTES TO EDITORS

On Tuesday 17th May Conservative MPs voted against an amendment to the Queen's Speech which would have introduced a Windfall Tax on oil and gas companies. The amendment read:

"but respectfully regret that the Gracious Speech fails to announce a windfall tax on the profits of oil and gas producers, in order to provide much-needed relief from energy price increases for households."