Lemma
Login
Register
Lemma, a short statement you believe to be true
- No names, respond to the idea not the person
- Stay on topic, the lemma stays in the center
- Rate other lemmas, highest rise to the top
- Tags, follow what you care about
#windfalltax
Opinion
Irrelevant
2yr
The tax is ultimately paid by the shareholders, which for large energy companies are often pension funds
#windfalltax
Opinion
Irrelevant
2yr
Firms or the public may expect companies to be supported if they make excessive losses or at risk of going bankrupt
#windfalltax
Opinion
Irrelevant
2yr
It may deter Energy firms from investing in Green energy in the UK
#windfalltax
Opinion
Irrelevant
2yr
Most energy companies are global and applying it only in 1 jurisdiction may allow them to shift profits elsewhere and avoid it
#windfalltax
Opinion
Irrelevant
2yr
Uncertainty about the tax arrangements might cause companies/investors to go elsewhere in the global market
#windfalltax
Opinion
Irrelevant
2yr
Estimates are that it will only raise revenue of £2bn a year which is small relative to the overall government budget or approx £30 per head per year
#windfalltax
Opinion
Irrelevant
2yr
Oil companies already have a higher base rate of corporation tax (40%)
#windfalltax
Opinion
Irrelevant
2yr
Energy companies profits are large because of their size, their margins are not excessive
#windfalltax
Opinion
Irrelevant
2yr
Tax revenue is already predicted to be at its highest level at (36.3% of GDP) since the 1940’s
#windfalltax
Opinion
Irrelevant
2yr
Few taxes like this have been introduced so the evidence on the impact is limited