Windfall tax on energy companies ‘right compromise’ to keep prices down, says Starmer

Guardian News published this video item, entitled “Windfall tax on energy companies ‘right compromise’ to keep prices down, says Starmer” – below is their description.

The Labour leader has outlined his party’s plan to address the country’s energy crisis. Keir Starmer said Labour would fund an energy price cap with a windfall tax that could prevent significant increases in energy costs for households later this year and reduce inflation. ‘Our plan not only keeps prices down this winter, but it also takes inflation down by 4%,’ Starmer said. He also called for a ‘sprint on renewables’, to prevent dependence on international energy markets and ruled out any attempt to nationalise energy companies

Starmer says his radical plan to freeze energy bills is needed to cut inflation

Labour’s energy bill freeze makes more sense politically than economically | Larry Elliott

Starmer says government ‘just not good enough’ on cost of living crisis as he defends plan to freeze energy bills – UK politics live

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In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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