More bad news for the left

[MCN]

I hate lefty Cunts.

The Internet's a-fucking-wash with the bastirts.
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Disclaimer: The comments above may be predicted text and not necessarily the opinion of MCN.

[Nobby the Bastard]

Let's make 8t easy for you to understand.


The exchequer needs a certain amount of money to balance the books.

If the exchequer is getting loads via a windfall tax then it doest need so much from duty, vat and income tax.

Ffs, governments aren't run to make a profit for the exchequer.
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[chickenstrip]

[stinkwheel]

The government collects VAT on all these energy bills and duty on the fuel componants of it. How about a windfall tax on the government, or maybe cut the VAT rate which we are entirely at liberty to do now we aren't in the EU?
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[Ribenapigeon]

[Polarbear]

Windfall tax in UK will be negligable. Shells and BP's profits are world wide. Lovely greens have reduced their antics in the UK. A big oil field Shell had a big stake in they have said they wont produce because of bad PR. That's huge tax revenues lost.

It's the old joke, how much petrol is tax yet the political parties moan like sh1t when SHell makes 5p on a gallon.
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Triumph Trophy Launch Edition

[Easy-X]

Oil companies make some money, oil companies sometimes lose some money (or more likely make a bit less than their shareholders would like) anyhoo...

Everyone screams "windfall tax!" when things are going well in a particular market, today it's energy.

Yesterday it was pharmaceutical companies selling vaccines... #JustSayin'
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[Ribenapigeon]

[Polarbear]

[Kawasaki Jimbo]

[Ribenapigeon]

The point is that the company performance was a windfall, a result of the same bizarre circumstances that have negatively effected the wider economy. Its not earned value its an unexpected aberation.

[Ribenapigeon]

[Kawasaki Jimbo]

[Easy-X]

Right, Economics 101...

If North Sea Oil plc were selling a barrel of oil at £50 prior to the war and after - as Russia effectively exits the market - they see more demand. The ppl who were buying from Russia now have to buy from elsewhere. "Fuck your existing customers, we're desperate! We'll give you £60 a barrel." And so the price goes up as far as the market (i.e. the customers) will stomach - supply and demand - and hits £100 per barrel.

In time North Sea Oil plc would probably try and get more oil pumped and now they've got a bit of a surplus. "Feck, we need to shift this shit..." and so they offer some discounts. And so the price goes down until all the oil is sold.

The problem here is that the price is totally elastic whereas production is not.

If we are saying that North Sea Oil plc has to pay a windfall punitive tax on profits they really have no control over (as in they never started the effing war) how far is that from "market forces are evil, people are suffering, won't someone think of the children" etc.

Price controls, yes that's what we need. That's always worked in the past Fuck large-scaled distributed computation. One man. In an office. It'll be fine.
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[Polarbear]

[Ribenapigeon]

I found this pros v cons roundup https://www.theweek.co.uk/energy/956757/the-arguments-for-and-against-a-windfall-tax-on-oil-and-gas-profits

Make your choice but im sticking with mine.

[chickenstrip]

Well, it's nice that you trust Boris's government to spend it wisely.
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[Ribenapigeon]

[Polarbear]

[Ribenapigeon]

[chickenstrip]

[bhinso]

Rather than a Windfall tax, we all know the energy cap is going up. Why not restrict that rise?

Who controls what the cap is? Does the Government have control, or is it OFFGEM / Other?

The rise in the cap has been blamed on wholesale gas prices. But as we know, companies are making profits which would make a footballer blush, and the wholesale gas price has fallen in the last 2 months from 320p to 230p

[to v or not to v]

[Polarbear]

[Ribenapigeon]