TUC leader asks PM to reverse 3% bank surcharge for energy bills
The TUC demands the UK government reinstate a tax on banks, estimating it would generate £9 billion over four years to fund income-based discounts. Paul Nowak argues the current 3% levy, cut from 8% in 2023, must be reversed to help households and lower inflation.
The Trades Union Congress (TUC) leader told Prime Minister Andy Burnham that the government should introduce a social tariff paid for by a bank surcharge. Paul Nowak stated this plan would help two-thirds of households with energy costs and generate £9 billion over four years. He argued the levy, which was reduced from 8% to 3% in 2023 by the previous Conservative government, should be reversed. Nowak believes the policy could appeal to the Prime Minister and drive down inflation by reducing household bills. In an interview before the TUC's annual congress, he noted that millions of families worry about heating this winter. Burnham has already scrapped VAT on electricity bills from October but the TUC insists further help is needed. The union expects Chancellor John Healey to act alongside Burnham to meet these financial demands.
