meta_pixel
Tapesearch Logo
Log in
Coffee House Shots

Is the windfall tax justified?

Coffee House Shots

The Spectator

Daily News, News, Politics

4.42.2K Ratings

🗓️ 26 May 2022

⏱️ 11 minutes

🧾️ Download transcript

Summary

Rishi Sunak has announced a new tranche of economic measures designed to help ease the cost of living crisis in the UK. The new payments will be funded by a windfall tax on energy companies, which comes as the government U-turns on its previous opposition to the policy. On the episode, Katy Balls talks to James Forsyth and Kate Andrews about these measures – and especially the windfall tax.

Kate doesn't mince her words, arguing that 'This tax grab is possibly going to be a nail on the coffin for a Tory party that has been hiking taxes for the last two years'.

Produced by Natasha Feroze and Cindy Yu.

Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.


For more Spectator podcasts, go to spectator.co.uk/podcasts.


Contact us: podcast@spectator.co.uk


Hosted on Acast. See acast.com/privacy for more information.

Transcript

Click on a timestamp to play from that location

0:00.0

This podcast is sponsored by Canacord Genuity Wealth Management,

0:04.3

award-winning Wealth Managers who go above and beyond to support and guide you.

0:09.1

Visit candewelth.com to start building your wealth with confidence.

0:16.8

Hello and welcome to Coffee House Shots as Potato's daily politics podcast.

0:20.7

I'm Katie Balls and I'm joined by James the Siphon Kate Andrews.

0:25.1

And today, Richie Cunick has unveiled a new package of measures when it comes to the cost of

0:28.9

living crisis. Kate, get a starter. Can you just run a free the main frost of this?

0:33.6

Yeah, so there were some big announcements and there were a lot of them.

0:36.9

The headlines included the chancellors doubling the energy bills discount that he originally

0:41.0

announced in February. That support package is going from £200 to £400 for every household.

0:46.9

And he's also scrapped the loans aspect of that. So the idea is that you would get the discount

0:51.2

off your energy bills this year and then you would pay that back in relatively small installments

0:55.9

about 40 pounds over the next few years each year. He's scrapped that completely and that's

1:00.9

just going to be grand. So nobody's paying that back. And then on top of that, there's some big

1:05.3

one-off direct payments that are going to be made to the most vulnerable. So that's eight

1:09.3

million households in the UK that are on the lowest income. So you have the state supporting

1:13.1

something related to their cost of living. They're getting a one-off payment of £650.

1:18.5

Pensioners who the winter fuel allowance are going to get a one-off three hundred pound payment

1:22.8

and individuals on disability benefits are getting a one hundred and fifty pound one-off payment.

1:28.1

So if you are a recipient of the biggest sums there, you're looking at additional £1,200

1:33.0

given to you this year to help deal with inflation and price hikes, which is basically offsetting

1:37.8

the energy price hikes that we are expecting to see as the price cap lifts. These are huge sums

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from The Spectator, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of The Spectator and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.