TaxCorporate TaxWindfall tax in the pipeline for energy companies?

Windfall tax in the pipeline for energy companies?

Gordon Brown under pressure to introduce a windfall tax on the profits of energy companies

man with oil pipeline

The Prime Minister is under pressure to introduce a windfall tax on the
profits of energy companies. The proposal is thought to have resulted in
significant discord among Gordon Brown’s administration, with as many as 70
party members signing a petition calling for the tax.

It is believed Brown is more in favour of increasing payments made on
pollution permits issued under the European Union carbon-trading scheme.

Ministers began breaking ranks with Brown after bids to explore initiatives
in helping some of the UK’s poorest failed. The initiative he’s set to endorse
will form part of an autumn policy relaunch.

A £2.75bn drive to make low-income family homes more energy efficient has
also been considered.

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