SNP pushes for bank windfall tax to fund £300 energy bill cut, citing unmet Labour promises.

The SNP has urged Chancellor Rachel Reeves to impose a windfall tax on commercial banks to fund a £300 energy bill reduction for households, estimating the tax could raise £8 billion annually. The plan, costing £8.15 billion, would exclude top- and additional-rate taxpayers in Scotland and elsewhere, aiming to deliver immediate relief amid rising energy costs. The party criticizes Labour for failing to fulfill its promise to cut bills, accusing the Chancellor of avoiding a bank levy despite calls for shared sacrifice. The proposal is framed as a practical alternative to past support schemes and is tied to broader demands for Scottish energy independence to achieve lasting reductions.