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Labour 'would extend windfall tax and freeze fuel duty'

Rachel Reeves said Labour would extend the windfall tax to keep gas and electricity bills “as low as possible”, and freeze fuel duty, if the party was delivering the next Budget.

Speaking on the day the Bank of England raised the base interest rate to 4%, the shadow chancellor said families were facing “punitive” extra costs.

Ms Reeves said she was "hugely ambitious" for the UK economy, but the country needed a government that got behind British workers and businesses.

Bank raises interest rate but says inflation easing

2 February 2023

Personal finance

Bank of England

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