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Wales Online
Wales Online
National
Jonathon Manning

Martin Lewis asks Rishi Sunak: 'Why the hell is energy support a loan?'

Money guru Martin Lewis got up close and personal with Rishi Sunak and quizzed the Chancellor on his plans to support families against rising energy bills.

Interviewing the Government minister on ITV's Martin Lewis show, the host took aim at Mr Sunak asking him the questions many of his viewers had been dying to ask.

Specifically, "Why the hell are they having to pay money back when energy companies are publishing, the big ones, record profits?"

Martin added: "Why isn't there a windfall tax? Why aren't you making the energy companies pay for this?"

As part of a new support package announced today (February 3), the Chancellor revealed that households would receive £200 towards their electricity bills.

But the downside is that families will be made to pay that money back over the next five years. Payments will be £40 a year, starting in April.

Chancellor Rishi Sunak promised to “take the sting out” of energy price rises. (PA)

Answering Martin, Mr Sunak said: "Lots of people watching will say that sounds really appealing, tax the energy companies a windfall tax, right? And it does sound superficially appealing, of course it does. I wish there was a simple answer like that that solved all the problems.

"I don't think a windfall tax is the right thing to do most obviously because it will deter investment."

He went on to explain that he wanted energy companies to invest in the projects in the North Sea and that investment would help create jobs and benefit the wider UK economy.

What do you think about the new energy support packages? Do you think families should be made to pay the £200 back or is a tax on big companies the right option? Tell us your view in the comments below.

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