Ministers considering windfall tax on firms profiting from gas price rises

One-off levy is among options on the table, business secretary Kwasi Kwarteng tells MPs

Companies that stand to make significant profits from record energy market prices could face a windfall tax to help ease the burden on household bills, the business secretary has suggested.

Kwasi Kwarteng told MPs on Wednesday the government was considering all options", including looking at the Spanish government's plan for a 3bn (2.58bn) windfall tax on generators and energy traders that stand to gain from the energy crisis while homes and suppliers struggle.