PLAID Cymru’s Westminster leader, Liz Saville Roberts MP, has today (September 21) urged the UK Government to use a windfall tax on oil and gas companies to fund a “street-by-street insulation programme” to improve the energy efficiency of the Welsh housing stock.

The New Economics Foundation (NEF) has calculated that increasing the UK Government’s Energy Profits Levy by 20 percentage points would raise £9.3billion more than the £5bn it is currently expected to generate in the next 12 months.

Plaid Cymru argue that some of the additional money that would be raised by increasing the levy could go towards an energy efficiency programme, which would require £3.6bn of funding by the UK Government, according to the Welsh Future Generations Commissioner.

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Mrs Saville Roberts said that a refusal to invest in home insulation now would “lock households into decades of poverty while fossil fuel companies continue to make grotesque profits”.

She urged the Prime Minister, Liz Truss, to “seriously consider” Plaid Cymru’s proposals.

Mrs Saville Roberts said: “The inefficiency of our housing stock means that households are wasting hundreds of pounds a year on energy that immediately escapes through draughty walls, windows and ceilings.

“Energy companies are in effect profiting from huge energy wastage that could very easily be reduced through home insulation.

“When ordinary people are forced to shoulder the costs of Westminster’s energy plan, this is utterly unacceptable.

“Plaid Cymru are therefore calling on the UK Government to implement a street-by-street insulation programme to improve energy efficiency, paid for by a higher windfall tax on oil and gas companies.

“Increasing the UK Government’s Energy Profits Levy by 20 per cent and removing loopholes would raise £14.3bn overall and £9.3bn more than previous estimates.

“That would easily provide the £3.6bn of funding required by the UK Government to substantially improve the quality of the Welsh housing stock and bring bills down for good.

“Even before energy prices skyrocketed, the Welsh Future Generations Commissioner estimated that £3.6bn of investment from the UK Government towards a home insulation programme would help save Welsh households an average of £418 a year on their energy bills.

“Such investment would also be a boost to the construction industry and to the wider economy.

“A refusal to invest in insulation now will lock households into decades of poverty while fossil fuel companies continue to make grotesque profits.

“We therefore urge Liz Truss to consider these proposals seriously.”