The government tried to disguise its windfall tax u-turn by calling it a temporary targeted energy profits levy – 12 favourite reactions

Oonagh Keating. Updated May 27th, 2022

Just a week after voting down Ed Miliband’s amendment to force a windfall tax on oil and gas companies, the government has announced a new package of measures to help with the cost of living crisis – to be funded in part by a windfall tax on oil and gas companies.

We are introducing a temporary, targeted Energy Profits Levy charged on profits of oil and gas companies at a rate of 25%.

We're also building in a new investment allowance that doubles the relief for the energy companies that invest their profits in the UK. pic.twitter.com/nOS87Uzz0I

— Rishi Sunak (@RishiSunak) May 26, 2022

Coming just a day after the damning details of Sue Gray’s report into partygate turned the spotlight once again onto Boris Johnson’s fitness to lead, there was considerable scepticism about the motives behind the move.

amazing really that Rishi Sunak has found £10BN under the magic money tree just the day after #partygate what an incredible coincidence

— dave ❄️ 🥕 🧻 (@davemacladd) May 26, 2022

The hasty renaming of the windfall tax as a temporary targeted energy profits levy had strong Vladimir Putin’s special military operation in Ukraine vibes.

The Chancellor can call it Bazooka Titswallow for all I care. It’s a Windfall Tax.

— Emma Kennedy💙 (@EmmaKennedy) May 26, 2022

These reactions show the prevailing thoughts.

Think I saw Temporary Targeted Energy Profits Levy at a festival once, remember them saying their sound was inspired by their heroes The Windfall Tax

— Liam Thorp (@LiamThorpECHO) May 26, 2022

'Windfall tax? Why, I'm a temporary targeted energy profits levy' pic.twitter.com/TsBC3DnBQv

— Toby Earle 🇺🇦 (@TobyonTV) May 26, 2022

So we are now at the point where the only way the Govt tackles real issues is when it’s trying to destract from its embarrassments. That’s not a plan… it’s a bribe

— Deborah Meaden 🇺🇦 (@DeborahMeaden) May 26, 2022

🎶 Drove my Chevy to the temporary targeted energy profits levy, did a screeching u-turn 🎶

— Jane Merrick (@janemerrick23) May 26, 2022

Rishi Sunak: “Everyone makes mistakes… To change course is a sign of strength not weakness.”

Only if you do it BEFORE you hit the iceberg.#WindfallTax #Tosser

— Count Binface (@CountBinface) May 26, 2022

"Give everyone free money. That should make us popular."

— Otto English (@Otto_English) May 26, 2022

TIP FOR JOURNALISTS

If you can’t remember Rishi Sunak’s word salad policy ‘temporary targeted energy profits levy’, simply refer to it by its real name – #LaboursWindfallTax

— Ron Moore MP (@RonMooreMoreRon) May 26, 2022

Vatican investigates possible miracle as UK government inexplicably finds £10bn for energy bills just 24 hours after the Sue Gray report.

— Have I Got News For You (@haveigotnews) May 26, 2022

The #WindfallTax we have announced today is nothing to do with the one Labour have been demanding for the last few months. Theirs was to help people with their bills, whereas ours is to help me distract people from the #SueGrayReport.

— Parody Boris (@Parody_PM) May 26, 2022

10.

pretty sure Tory MPs were whipped to vote against an energy windfall tax a long time ago, or was it last week

— Jim Pickard (@PickardJE) May 26, 2022

11.

Chancellor of the Exchequer: pic.twitter.com/2lCCv4zizg

— Larry the Cat (@Number10cat) May 26, 2022

12.

We say "windfall tax", the Tories say "temporary targeted energy profits levy".

The Tories say "Prime Minister", we say "law-breaking chancer squatting in Number 10".

— Edwin Hayward 🦄 🗡 (@edwinhayward) May 26, 2022

James Felton had one eye on the benefits of the almost inevitible future Tory revelations.

Our only hope is someone’s sitting on a scandal so big the conservatives announce universal basic income

— James Felton (@JimMFelton) May 26, 2022

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Source Rishi Sunak Image Screengrab