In reply to Post #299
No she hasn't, and there's no need to double down.
We'll all be paying this off for decades, to maintain energy firm profits.
If you're OK with that, just say so - at least you'd be being honest about it.
No she hasn't, and there's no need to double down.
We'll all be paying this off for decades, to maintain energy firm profits.
If you're OK with that, just say so - at least you'd be being honest about it.
In reply to Post #298
The energy companies are already being taxed 65% in the £ now from the present “Windfall tax”
Starmer want to increase it even more! I know what any business would do in that that situation when they are selling a product that's in extreme demand “Go find another supplier - were off, sod supplying the UK”
The energy companies are already being taxed 65% in the £ now from the present “Windfall tax”
Starmer want to increase it even more! I know what any business would do in that that situation when they are selling a product that's in extreme demand “Go find another supplier - were off, sod supplying the UK”
Truss could fund the lot if they changed the rules on the royals paying inheritance tax. She'll have to get her skates on, mind.
How much tax do oil companies pay?
Oil and gas firms operating in the North Sea are taxed differently to other firms.
Taxes on their profits are higher - they pay 30% corporation tax on their profits and a supplementary 10% rate on top of that. Other firms currently pay corporation tax at 19%.
But oil and gas firms have been able to reduce the amount of tax they pay by factoring in losses or spending on things like decommissioning North Sea oil platforms.
In recent years, such methods have meant that BP and Shell, for example, have paid almost no tax in the UK.
BP and Shell both received more money back from the UK government than they paid every year from 2015 to 2020 (except 2017, when Shell paid more than it received). Shell also paid a negative amount of tax in 2021 - BP has yet to publish its figures for last year.
How much have energy firms been making?
BP reported its biggest quarterly profit for 14 years, making £6.9bn in the three months to June.
Shell recorded even higher second quarter profits of £9bn.
However, despite the profits, the majority of the April to June takings won't be hit by the government's windfall tax as it only applies from 26 May.
Oil and gas firms operating in the North Sea are taxed differently to other firms.
Taxes on their profits are higher - they pay 30% corporation tax on their profits and a supplementary 10% rate on top of that. Other firms currently pay corporation tax at 19%.
But oil and gas firms have been able to reduce the amount of tax they pay by factoring in losses or spending on things like decommissioning North Sea oil platforms.
In recent years, such methods have meant that BP and Shell, for example, have paid almost no tax in the UK.
BP and Shell both received more money back from the UK government than they paid every year from 2015 to 2020 (except 2017, when Shell paid more than it received). Shell also paid a negative amount of tax in 2021 - BP has yet to publish its figures for last year.
How much have energy firms been making?
BP reported its biggest quarterly profit for 14 years, making £6.9bn in the three months to June.
Shell recorded even higher second quarter profits of £9bn.
However, despite the profits, the majority of the April to June takings won't be hit by the government's windfall tax as it only applies from 26 May.
Not sure about anyone else, but I'd be quite happy to see greedy energy companies remove their operations from the UK Continental Shelf where they extract oil and gas and instead replace them with a nationalised firm for the benefit of all of us, instead.
In reply to Post #302
If you generate electricity from wind, solar, nuclear etc not by gas Keith, or drill for oil and your profits spike by billions upon billions of pounds because of a war. No company worth it's salt would just up and off when asked to contribute some of the excess to help an artificial situation. If they did good riddance and don't let the door hit you on the arse on the way out
Personally I think it should have been a taxpayer/ unearned profits joint contribution.
If you generate electricity from wind, solar, nuclear etc not by gas Keith, or drill for oil and your profits spike by billions upon billions of pounds because of a war. No company worth it's salt would just up and off when asked to contribute some of the excess to help an artificial situation. If they did good riddance and don't let the door hit you on the arse on the way out
Personally I think it should have been a taxpayer/ unearned profits joint contribution.
In reply to Post #299
Savings??
Savings??
The "plan" in a nutshell;
1. Borrow £130bn.
2. Give it to energy giants who just got an unearned £170bn windfall.
3. Energy bills still go up at least 80%.
4. We then repay that £130bn loan from our tax.
5. Meanwhile she cuts tax in a way that benefits the rich 235x more than the poor.
Genius......
1. Borrow £130bn.
2. Give it to energy giants who just got an unearned £170bn windfall.
3. Energy bills still go up at least 80%.
4. We then repay that £130bn loan from our tax.
5. Meanwhile she cuts tax in a way that benefits the rich 235x more than the poor.
Genius......
In reply to Post #307
I have a daughter a single working mum with 3 kids mate yes this will save her money. 👍
This is the reason why labour are not in power too bloody negative.
I have a daughter a single working mum with 3 kids mate yes this will save her money. 👍
This is the reason why labour are not in power too bloody negative.
In reply to Post #306
You give any Private company a monopoly of a commodity that is a necessity, one a modern society cannot do without, and they will milk the situation for the benefit of maximum Profit and the Shareholders every time – that's the way it is Ocelot.
It's crap, it stinks, it's immoral - there's sod all anyone can do about it as there's no political party that has the will to do anything about it.
As I said in an earlier post – Gas, Electric & Water should not be in Private Companies hands BUT nor should they be in Public Hands either. They should be fully independent with no shareholder or Union Involvement whatsoever.
You give any Private company a monopoly of a commodity that is a necessity, one a modern society cannot do without, and they will milk the situation for the benefit of maximum Profit and the Shareholders every time – that's the way it is Ocelot.
It's crap, it stinks, it's immoral - there's sod all anyone can do about it as there's no political party that has the will to do anything about it.
As I said in an earlier post – Gas, Electric & Water should not be in Private Companies hands BUT nor should they be in Public Hands either. They should be fully independent with no shareholder or Union Involvement whatsoever.
In reply to Post #309
How will she be saving money if she'll shortly be paying roughly twice as much on energy bills than she was a year ago?
How will she be saving money if she'll shortly be paying roughly twice as much on energy bills than she was a year ago?
In reply to Post #309
Negative = Realistic.
Negative = Realistic.
In reply to Post #308
Yes that sounds fair,
Yes that sounds fair,
In reply to Post #311
You still living at home with mum and dad mate ?
The bills have been going up since last year.....
You still living at home with mum and dad mate ?
The bills have been going up since last year.....
In reply to Post #299
£2500 is more than it is now. Tell me how that increase is a saving for hard working families...
£2500 is more than it is now. Tell me how that increase is a saving for hard working families...