In other news, the Financial Times reports that Chancellor Rishi Sunak has tasked his officials with scoping out plans for a possible windfall tax on more than £10bn of excess profits for electricity generators in a bid to help families struggling with the cost of living. The paper says Treasury officials are devising a scheme that would go further than Labour’s original windfall tax idea, encompassing wind farm operators in addition to North Sea oil and gas producers. But one analyst warns that such a plan would be a “blunt instrument”.
Kellogg is reportedly splitting into three separate companies. The Financial Times reports that the US company will retain its snack foods division while spinning off the cereals section and a smaller plant-based food division.
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