Call to impose tax on energy firms

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

More than 70 Labour MPs have signed a petition urging the Prime Minister to claw back some of the huge profits made by companies.

One Government member has publicly threatened to quit unless proposals for a significant one-off levy are brought forward this autumn.

Rob Marris, parliamentary aide to Northern Ireland Secretary Shaun Woodward, told The Times: "I'm sure there will be a change of policy this Autumn.

"What the detail is of that change will determine the level of my enthusiasm for remaining."

However, Chancellor Alistair Darling is believed to be resisting the idea of a windfall tax. There are fears that companies would merely pass on the cost to customers who have already been hit hard by soaring fuel prices. The move could also hit investment in infrastructure and renewable energy sources.

The petition, organised by left-wing Labour group Compass, has been signed by several Government members, including Stephen Pound - aide to welfare minister Stephen Timms.

Backbencher Clive Betts said there was "overwhelming" support for a one-off tax among his parliamentary colleagues.

He told the BBC Radio 4 Today programme that companies were looking at more than 30% increases in their profits, adding: "They are simply going to make much more money for doing absolutely nothing.

"I think it's reasonable for people to say 'Why should the wages and salaries and bonuses of the executives of these companies, which will be linked to their profits and their share prices, go up astronomically while the ordinary person in the street is seeing their wages go up by 2%... and their energy bills going up by 30%?'"