The independent Office for Budget Responsibility has calculated the tax UK fossil fuel energy producers are expected to pay this year to be nearly twenty times the £400m paid in 2020. That year, at the start of the pandemic, prices plummeted and producers sustained losses.
He acknowledged both he and the prime minister wanted a "low-tax, high-growth economy, and world class public services", but Mr Sunak said this could only be "responsibly delivered if we are prepared to work hard, make sacrifices and take difficult decisions".
George Godber, a fund manager with Polar Capital, said gas prices were set to rise even further later in the year: "Our companies are struggling with this deteriorating economic outlook. How do businesses and consumers plan for rising gas prices, and the squeeze in...
"I didn't meet my man in college, didn't meet my man in law school," she explains, "so there is this sense in the back of your head that you need to hurry up and just have a kid. I'm OK with the commodification of it, especially in America, as we're having to revisit...
