Taxing Banks to Fuel Social Tariffs: A Proposal Whose Time Has Come?
As energy bills continue to fuel inflation and strain household finances, trade unionists are pushing for a "social tariff" – a discounted rate on energy bills based on household income.
TUC leader Paul Nowak advocates for this policy, funded by a bank surcharge that was reduced in 2023 but could be restored to its original level of 8%.