Windfall tax: Thirsk, Malton and Filey MP 'supports' it but votes against it
Kevin Hollinrake has been explaining why he voted against a windfall tax last night
Last updated 18th May 2022
The MP for Thirsk, Malton and Filey says he DOES support a windfall tax despite voting against it in the House of Commons last night.
Last week, Kevin Hollinrake told us he is in favour of taxing big companies to help with the cost of living.
But in an amendment vote on the Queen's Speech on bringing one in, he was one of the 'nays'.
Kevin, who sits on the Treasury Select Committee, said: "I voted against the amendment. To me it was the wrong place to put a measure in like that. I've spoken to the Chancellor about this directly this week and I'm confident he will bring forward measures that will achieve a similar purpose.
"Windfall tax is £2 billion so for many people it's not even going to scratch the surface. It needs something bigger than just a windfall tax but nevertheless, I think it's the right thing to do and I'm confident he'll do it. But really, there needs to be something more comprehensive.
"The Queen's Speech is a strategic agenda of what legislation you've got coming through and not a cost of living measure. The right place for that is usually a budget or a spring statement as the Chancellor did. If you combine it with the energy announcement, it's £21 billion of measures.
"I personally think we should target the support more directly at the lowest income households. Last time we gave it to four out of five households and I think this time we should probably give it to maybe one in four households and the ones that are experiencing the most difficulty.
"I've been very clear and I've spoken very clearly that the windfall tax, to me, is the right thing to do. I'm confident the Chancellor will do it. I'm not mixing my messages at all. I'm very clear we should do a windfall tax just do it through the right vehicle at right time."