Ed Miliband

Ed Miliband

Labour — Doncaster North

Speaking in the House of Commons on 19 May 2026

Debate

Energy Security

Contribution

I am going to make some progress. By contrast, we stand for national security through energy security and energy independence. How we protect consumers is very important. My right hon. Friend the Chancellor showed at the Budget last year that she took decisions to raise taxes, including on the wealthiest, so that we could cut bills for everyone, and we saw that happen in April. The Gracious Speech also includes legislation to raise the rate of the electricity generator levy from 45% to 55%, as part of our plan to break the link between electricity and gas prices, and act on the excess profits that arise from that link. We are also making a big call: keeping in place the windfall tax on oil and gas profits during this conflict. In the last few weeks, we have seen profits from major oil and gas companies soar.

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