Labour and Liberal Democrat councillors are calling on the government to introduce a windfall tax on the massive profits of oil and gas companies.
While local residents are struggling to pay their bills, BP is reporting profits of over £6 billion for the first quarter of this year.
Leader of the Council Pete Marland said: "While people in Milton Keynes are having to choose between heating and eating, the government is refusing to act. A windfall tax would help the most vulnerable people through the cost-of-living crisis, yet Boris Johnson is doing nothing."
"The local Conservatives here in Milton Keynes seem to be taking the same approach. The Progressive Alliance set aside half a million pounds in our budget to help residents during the energy crisis, yet the Tories tabled an amendment to remove it. At March's meeting of the Council a Conservative councillor said they voted against this money because the Chancellor's energy plan was targeted at low-income families, but we all know Rishi Sunak's plans fall desperately short."
Liberal Democrat Group Leader Councillor Robin Bradburn added: "Right now families in Milton Keynes are seeing skyrocketing energy bills, the highest inflation in 30-years, a National Insurance tax hike, and the weekly shop going up by hundreds of pounds every year. The government could ease this burden, yet they're choosing not to."
"As a Council we're doing all we can to help residents, including providing over £16m in direct cost-of-living support, but we can only do so much - we need the Government to step up and provide proper support before it is too late."