A FIFE MSP has called on the Chancellor of the Exchequer to scrap the planned energy cap rise due in April.

In a letter to Jeremy Hunt MP, Alex Rowley, MSP for Mid Scotland and Fife, expressed serious concerns about the planned increase in the energy price cap which could see a further hike on the already soaring cost of household energy bills.

Mr Rowley said: "The UK Government needs to stop letting energy companies off the hook and introduce further and proportionate taxes on the outrageous increases in profits made by these companies in order to help mitigate households struggling with rising energy costs.

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“While I imagine the Chancellor and I differ in terms of approach to economic policy, I would hope he agrees that the structure of taxation of companies in the UK needs to be overhauled to bring an end to the greed and excesses we are witnessing."

Mr Rowley has raised a motion in the Scottish Parliament drawing attention to the “obvious and blatant profiteering by energy giants off the backs of ordinary people who are already struggling to juggle expenses amidst one of the greatest cost-of-living crises to be faced in the UK”.

He highlighted the record annual profits of energy giant BP, which more than doubled to £23bn in 2022, and oil and gas giant Shell's record-breaking annual profits of £32.2bn, the highest in its 115-year history and double the previous year’s record.

He added: “The UK Government must take action to address the problems of energy giants making obscene profits despite paying very little tax in the UK and finally commit to a proper windfall tax on these record-breaking profits in order to help people simply pay their bills.”