A windfall tax on the huge profits of oil gas companies – that can only be a good thing. But when Chancellor of the Exchequer, Rishi Sunak, gives with one hand, he takes away with another.
Billions of pounds of grants set aside to insulate our homes, lower fuel bills and relieve the pressure from the country's poorest households, have been completely ditched by the UK Government. Instead, dirty fossil fuels lobbies have convinced the ministers the best way to tackle the energy crisis is to grant massive new rebates, subsidies and drilling contracts to climate-wrecking oil, gas and coal companies.
That means money that was directly heading to you, me, and the most vulnerable in the UK, is being funneled into pockets of the world’s most climate wrecking execs.
Fossil fuels can’t be a short or a long-term solution, neither for the cost of living crisis or for our planet.
That’s why a powerful movement is growing to fight this toxic reasoning. NGOs, activists and frontline community groups are joining together to demand that the UK Treasury give us back the money to renovate our homes to save money and the planet:
Drown out the lobbies, demand the UK Treasury slash our energy bills by giving us money to renovate our homes.
The UK has the least energy-efficient housing stock in Europe – domestic buildings account for 19% of the UK’s greenhouse gas emissions. This means high energy bills, and, for more and more people, often a desperate choice between heating or eating.
3,000 Britons die every year due to the cold, unable to afford warm homes.
Insulating our homes is seen by many experts as a true solution. It will make our homes more energy efficient, cut our bills, and protect us from wild swings of energy markets. It was even the centerpiece of Boris Johnson’s pledge to “build back greener” strategy in 2019.
Only that now, in the midst of the rising energy crisis, the government abandoned the plan and ditched £1.5bn of green homes grant, leaving 18,952,500 properties needing to be made low carbon and low energy.
This cash is now boosting the super profits of wrecking companies, like BP and Shell, whose profits were £10.5 billion from just the first three months of the year. The toxic lobbies dreamed of it, the government just did it!
We need to get back our home renovation grants to ensure that anyone can live in dignity without dangerously overheating the planet.
Demand the UK Treasury to give us our money back to renovate our homes to slash our energy bills and UK’s greenhouse gas emissions.
Taxing the profits of oil and gas companies with a windfall tax is a long-overdue policy but it doesn't have to take away from other grants needed : renovating our homes can help us lower our fuel bills and do our bit to mitigate the climate crisis.
Instead, the government continues to side with the fossil fuel companies, signing death warrants in the name of profit.
This spring, SumOfUs members and their partners New Economics Foundation, Sunrise Project and Positive Money are fighting fossil fuel lobbies and ramping up the pressure on governments across Europe. Our aim is to ensure the UK Government responds to the energy crisis in a way that is both fair and sustainable for people and the planet.
Last year, pressure from SumOfUs members like you, got Rishi Sunak to change the Bank of England’s mandate to explicitly include environmental sustainability and net-zero objectives. This has forced the bank to begin greening its Corporate Bond Purchase Scheme and reduce its toxic investments in fossil fuels.
Momentum is building against climate inaction -- now’s the time to get Rishi Sunak and the rest of the UK government to live up to his climate promises.
Join the movement: tell the UK Government to stop giving our money to fossil fuel execs and insulate our homes instead.
More information
New Economics Foundation. 1 July 2020.
The Guardian. 3 September 2021.
The Financial Times. 3 September 2021.
The independent. 8 February 2022.
Energy Voice. 5 April 2022.