A windfall tax on energy companies would be simply ‘old-fashioned socialist
hatred,’ a shadow cabinet minister has said, as the row over the mooted tax
Energy companies said the cost would simply be picked up by customers, as
shadow business secretary Alan Duncan criticized those who were pushing for the
Duncan said the nearly 80 Labour MPs who had signed a petition pushing for
the move were ‘whipping up hatred’.
‘We are seeing old-fashioned socialist hatred converting once again into high
taxation,’ he told
David Porter, chief executive of the Association of Electricity Producers,
said: ‘If you take money out of the companies and they have to find it somewhere
else, then their investment costs will go up and customers will have to bear the
brunt of that.’
The government is under pressure from its backbenchers to introduce the tax,
but many in government, including John Hutton, the business secretary, and
chancellor Alistair Darling, are said to be skeptical.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states