Cost of living: Leeds MP's 40,000-strong call for government to force energy companies to hand over excess profits

Leeds East MP Richard Burgon (Lab) is calling for the Government’s windfall tax to be “at least doubled” to provide relief for families struggling with their bills this winter.

The petition will be delivered to the new Prime Minister when parliament returns next week.

It calls for the windfall tax to be hiked to levels at which the North Sea oil and gas giants do not make any profits above their normal levels.

This would, he claims, raise a minimum of £12 billion in total for support to people struggling with spiralling energy bills.

Mr Burgon said: “Next week I will be delivering my petition to the new Tory Prime Minister demanding that as their first act they hike the Windfall Tax to raise billions in additional funding to help people through this cost-of-living emergency.

“It’s totally unacceptable that oil and gas firms are raking in record profits, not from extra investment or innovation but on the back of higher energy bills for ordinary people.

“The Government’s windfall tax is set too low and lets these oil and gas firms off the hook while leaving families, small businesses and workers out to dry.

“But it doesn’t have to be this way. I’m calling for the Windfall Tax on oil and gas giants to be hiked so they don’t make a single penny in excess profits and to instead provide many billions more in much-needed support.”

Ofgem has confirmed an 80.06 per cent rise in the energy price cap, sending the average household's yearly bill from £1,971 to £3,549 from October.

The 4.5 million pre-payment meter customers, who are often the most vulnerable and already in fuel poverty, will see an even more punishing increase, with their average annual bill set to go up to £3,608.

Ofgem's chief executive Jonathan Brearley warned of the hardship energy prices will cause this winter and urged the incoming Prime Minister and new Cabinet "to provide an additional and urgent response to continued surging energy prices".

The Conservative Party is set to pick its new leader in the coming days, with foreign secretary Liz Truss understood to be the front-runner.