Wednesday, Oct 29, 2008
Why the government should be grateful to BP
MoneyWeek: Why the government should be grateful to BP
BP's huge profits are good for our pension funds and good for the public coffers. Rather than calling for windfall taxes, the government should be grateful that at least one British company is making money...
Posted by damien @ 12:17 PM (291 views) Add Comment
3 Comments
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1. indiablue19 said...
Making money of course by gouging the public and completely at our expense. Gee, thanks.
2. rickyb said...
I'm no fan of the oil companies either, but at least they produce a product that we want and need, and that can be used to add value. If the government are going to start imposing windfall taxes on any companies that make obscenely large profits, then perhaps they should have started with the banks, who ultimately produce nothing.
3. 51ck-6-51x said...
@indiablue19 - Please check their financial statements!
Over the last 3 quarters 1/11th of their profit has originated in the UK.
The fact that B.P. are making a big profit is good for the U.K. - They pay over 30% tax and employ quite a few British citizens.