Truss rules out windfall tax on PMQs debut

In her first prime minister’s questions, Liz Truss has ruled out windfall tax as a solution for the cost of living crisis while energy company profits continue to soar.

She told the House of Commons that she was “on the side of hard working people” and would tackle the issue instead by cutting tax, promising a statement on Thursday.

Labour leader Keir Starmer was left exasperated as the decision to leave excess profits “on the table” while asking working people to “foot the bill” for rising energy costs. Starmer told MPs that while the face at the top has changed, “the story remains the same” in the Conservative Party.