Reform UK plans windfall tax on renewables, targets net zero repeal

Reform UK, under deputy leader Richard Tice, has announced plans to impose a windfall tax on renewable energy sources such as wind and solar farms, aiming to raise approximately £10 billion annually. Tice criticized net-zero policies, claiming they contribute to higher energy bills and the deindustrialization of Britain, asserting that the British public is unfairly burdened by subsidies for the renewable sector. The party intends to scrap the net-zero target and replace it with a generation tax and special corporation tax to recover subsidy costs. Farmers who develop solar farms would face a tax on inheritance relief if they sell their land for renewable use, reinforcing a stark choice between food production and renewable energy participation. This stance sharply contrasts with the Labour government's commitment to expanding renewable energy and reducing fossil fuel reliance by 2030. The Reform UK party's proposals come in the wake of favorable polling ahead of the next general election, positioning them as a significant contender against both Labour and the Conservatives.