Jump to content
House Price Crash Forum
crash2006

Energy Firms Told To Surrender Profits

Recommended Posts

LONDON (Reuters) - Gas and electricity companies are being ordered by the government to hand over part of their bumper profits or face a new windfall tax, according to a newspaper report on Sunday.

Chief executives of utility firms have been told that, unless they agree to subsidise a new nationwide "fuel poverty" scheme aimed at the 4.5 million poorest households, a levy will be put on their profits, the Sunday Telegraph said

http://uk.reuters.com/article/businessNews...ews&rpc=451

Share this post


Link to post
Share on other sites
they should just refuse to pay and then go to court - this government is fked

They have lost control and now want to control it by imposing new rules, its a mess. they know inflation is going up and need to reduce it.

Share this post


Link to post
Share on other sites
Let's see how we resolve the inflation problem....

Oh yes, wage and price controls. :rolleyes:

Awesome, isn't it?

A lesson in how to wreck an economy in 4 easy stages by G. Brown.

Share this post


Link to post
Share on other sites
Guest Bart of Darkness
Let's see how we resolve the inflation problem....

Oh yes, wage and price controls. :rolleyes:

Has a familiar ring to it.

Share this post


Link to post
Share on other sites
General price controls—controls on prices of many goods—are often imposed when the public becomes alarmed that inflation is out of control.

Yes, and they always make the problem spread to other areas and ****** the economy in question.

Share this post


Link to post
Share on other sites
well end of cheap anything apart from homes.

Bernanke said last week that if oil doesn't come down soon then we're going to get high inflation.

What is the answer to this problem?

A 75 basis point interest rate cut. :o:lol:

Share this post


Link to post
Share on other sites
Bernanke said last week that if oil doesn't come down soon then we're going to get high inflation.

What is the answer to this problem?

A 75 basis point interest rate cut. :o:lol:

All the stats are fixed, come on how can we have 2% inflation when everything around us is going up well over 5%.

Share this post


Link to post
Share on other sites

Some similarities with the recent Russian renegotiating of the Saklin deal with Exxon Mobil. I guess the UK is still better as you wont get thrown in a Gulag for not complying with the edicts.

Share this post


Link to post
Share on other sites
All the stats are fixed, come on how can we have 2% inflation when everything around us is going up well over 5%.

shadowstats estimates US CPI is running at 12% using previous measures.

sgs-cpi.gif

Edited by narco

Share this post


Link to post
Share on other sites
Some similarities with the recent Russian renegotiating of the Saklin deal with Exxon Mobil. I guess the UK is still better as you wont get thrown in a Gulag for not complying with the edicts.

It's in the post.

Share this post


Link to post
Share on other sites
Some similarities with the recent Russian renegotiating of the Saklin deal with Exxon Mobil. I guess the UK is still better as you wont get thrown in a Gulag for not complying with the edicts.

Once a windfall tax has passed through the legislative process it will be law and evasion will be subject to the usual penalties, I would think. Though I'd sooner do time in a HMP than in Siberia so I see where you're coming from ;)

I don't see what it's got to do within price controls, though; it's a transfer/redistribution, not a cap. Unless they put 'what grannies pay for their leccy' into the inflation basket it should have no impact on the headline figures at all. If anything it's more likely to result in higher prices for the rest of us :ph34r:

Share this post


Link to post
Share on other sites

They'd just pass the tax straight onto the consumer in the form of price rises, cut back on investment, etc. Probably create more problems down the line.

Share this post


Link to post
Share on other sites

a frightening development. the cancer of socialism is spreading like wildfire.

did anyone listen to jim puplavas show this weekend? he explains how this type of confiscatory behaviour and lack of reverence for private property rights undermines capital accumulation and, thus, leads to the impoverishment of the nation in general. as ever, he does a good job.

Share this post


Link to post
Share on other sites

So if British Gas and the power generators hand over profit then will i get a tax rebate ?

Don't think so and it's just another case of Brown robbing anyone blind when ever he gets a chance.

Best thing to do to register a protest is to stop spending in the UK as this will be good for you and help reduce the amount Brown and the thugs called MP's are able to extract from you each week and it will help bring the house of cards down.

paying tax does bot give you any say in what the 3 main parties do with you money do it's little better than giving payment to the Mafia.

Share this post


Link to post
Share on other sites

a few options

take gov to court

accept the windfall tax and pass it onto consumers (hahahahahah)

play ball and decrease your legitmate profits (yeh right)

Share this post


Link to post
Share on other sites

I wouldn't mind the idea of the government forcing the energy companies to reinvest any freak profits back into the energy infrastructure - it's a correct response to a market signal, rather than the short termist view of paying a big dividend. A kind of you WILL invest in growing your bsiness or be taxed..

Share this post


Link to post
Share on other sites
I wouldn't mind the idea of the government forcing the energy companies to reinvest any freak profits back into the energy infrastructure - it's a correct response to a market signal, rather than the short termist view of paying a big dividend. A kind of you WILL invest in growing your bsiness or be taxed..

I wouldnt mind that either, if they were forced to invest in a way that decreases future consumption (free cavity wall and loft insulation to pensioners) or lowers future costs. Unfortunately its likely to be a subsidy to current customers, and that will only force up future demand.

Share this post


Link to post
Share on other sites

Given that all UK energy firms are monitored already by OFGEM, a government body, and we already have the lowest prices in Europe I fail to see how any tax on "windfall profits" can be justified.

A PR stunt at best.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 292 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.