TAX AND SPEND Excess profits, How about excess losses?

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Fraser921
Posts: 2955
Joined: Mon Mar 22, 2021 11:48 am

TAX AND SPEND Excess profits, How about excess losses?

Post by Fraser921 »

How about getting the f out of the way?

Jillian Ambrose Energy correspondent
Wed 22 Sep 2021 11.18 EDT

First published on Wed 22 Sep 2021 09.20 EDT

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.

“I think what they’re doing in Spain is recognising that it’s an entire system. We’re in discussion with [energy regulator] Ofgem officials, looking at all options,” Kwarteng told the business select committee.
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The windfall tax in Spain will target companies that have made “excess profits” from the fast-rising energy market prices. This will be used to create a fund to cover the cost of infrastructure investments and taxes that would otherwise have come from household energy bills.

The move has been strongly opposed by companies, including owners of nuclear power plants that are not exposed to higher energy costs but are able to sell their electricity for far higher prices.
Fraser921
Posts: 2955
Joined: Mon Mar 22, 2021 11:48 am

Re: TAX AND SPEND Excess profits, How about excess losses?

Post by Fraser921 »

Maybe the one time hedge losses will help :lol:
Fraser921
Posts: 2955
Joined: Mon Mar 22, 2021 11:48 am

Re: TAX AND SPEND Excess profits, How about excess losses?

Post by Fraser921 »

Defund government 50 % and give the windfall to energy consumers
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