Windfall Tax

  Kevscar1 15:46 31 Oct 2008
Locked

Here we go again BP and Sell have made massive profits so lets Windfall Tax them.
Funny we never hear the Government say how much extra they have made because to the Tax and VAT on fuel and howmuch extra Tax they get from the increased profits.
Maybe they should Windfall Tax themselves and give us workers a rebate.

  monkeyboy21 16:35 31 Oct 2008

I agree, just because they are large corporations why should we tax them extra. They already operate under UK tax law, and if we were to penalise them further they would just seek to move their business elsewhere. Gordon Brown (and the majority of consumers) conveniently forget that the vast proportion of the price of fuel is made up of Tax AND Vat. The profits we see are rarely made at the pumps anyhow, but trading in crude oil!

  carver 17:06 31 Oct 2008

What they really mean by WINDFALL TAX is, we are up to our necks in debt and this could be a way to screw some more money from a firm that knows how to run a business.

I didn't see the government saying that because of the high cost of fuel we will reduce the amount of VAT to try to help the consumer. So what happened to the extra revenue that the government got while prices were high.

We allready pay more tax for fuel than nearly every one else and now they want an extra slice of the cake.

  oresome 17:16 31 Oct 2008

I am a Royal Dutch Shell shareholder. I have been for around 3 years and the annualised rate of return on my investment as of today is 0.8%.

Hardly a massive return is it?

  skeletal 17:49 31 Oct 2008

I get sick of the “This Company is doing well, so let’s tax it even more” arguments.

We are right in the middle of a recession/credit crunch or whatever you want to call it. Banks in particular are making huge losses. Oh woe, oh woe, it’s the end of the world; give the failing companies loads of taxpayers money to keep them going.

Profit? We don’t want that. Billions back in to government funds from corporation tax? No, much better to make a loss.

Pardon me while I take some more of my pills.

Skeletal

  Kevscar1 18:54 31 Oct 2008

Well the Banks are lending again. Mine just guaranteed me 20K if I want it.

  cluckinbell 20:05 31 Oct 2008

Its the same mentality that thinks a person who earns 100k should be taxed to death, never mind the fact they are contributing circa £50k in tax all told per year to the coffers, far better for them to be a shelf stacker on £8k and be claiming every benefit going.

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