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Write to your MP - this is immoral

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By *rFunBoy OP   Man
over a year ago

Longridge

If you, like me is in disgust over not taking profits from Energy Wholesalers and Producers to place this Winter's and the next few onto us and our Children in years to come.

This Winter is the first of many with high Energy prices.

I suggest writing to your MP to make it known it is immoral and unfair.

https://www.writetothem.com/

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By *lex46TV/TS
over a year ago

Near Wells

Why should any business hand over their profits to the government?

Business employ millions of people so they can earn, pay millions in PAYE, Cooperation tax, high business rates, collect Vat for HMRC etc, etc.

They need profit to be able to invest in their future. How many energy suppliers went bust a few months ago?

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By *agan_PairCouple
over a year ago

portchester

Do you really belive a windfall tax will bring in any money. I will guarantee that any of the profits that would come under that tax will not occur in the UK. Its a wonderful political soundbite, but will not cover even a fraction of the required money.

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By *9alMan
over a year ago

Bridgend

these companies should never have been sold off, they must be re nationalized so government has control of prices

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By *irldnCouple
over a year ago

Brighton

[Removed by poster at 08/09/22 18:05:57]

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By *irldnCouple
over a year ago

Brighton


"Why should any business hand over their profits to the government?

Business employ millions of people so they can earn, pay millions in PAYE, Cooperation tax, high business rates, collect Vat for HMRC etc, etc.

They need profit to be able to invest in their future. How many energy suppliers went bust a few months ago?"

Except it isn’t Energy Suppliers it is the oil and gas extractors who are war profiteering via their energy trader friends in the City. Totally unprecedented and unforecast profits.

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By *erryfunguyMan
over a year ago

DUNDEE

So does OP then think that all the supermarkets should have a windfall tax to subsidise food banks i mean whats the difference? They're making 10s of millions profit and yet people cannot afford food? Energy prices are set by demand not by suppliers and with a shortage of supply obviously the price goes up but you cannot penalise producers for that, that is how business works that is how pension funds make money for you and me to retire. No different from buying a house and the market goes up so your house is worth more when you come to sell it, would you be happy to hand over any profit when you came to sell your house? Windfall taxes are a slippery slope and people need to stop for a minute and think where it will end once it starts.

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By *rFunBoy OP   Man
over a year ago

Longridge

[Removed by poster at 08/09/22 21:09:34]

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By *rFunBoy OP   Man
over a year ago

Longridge

Sometimes I feel like banging my head against the wall.

If you read Windfall Law, you'd understand the difference between day-to-day profit and extraordinary profit from an unforseen event..

Like a war..

Supermarket price increases is nothing to do with profiteering of the Supermarket, its the energy cost increases they've been forced to pay, which they have to pass on or sink.

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By *ayturners turn hayMan
over a year ago

Wellingborugh


"If you, like me is in disgust over not taking profits from Energy Wholesalers and Producers to place this Winter's and the next few onto us and our Children in years to come.

This Winter is the first of many with high Energy prices.

I suggest writing to your MP to make it known it is immoral and unfair.

https://www.writetothem.com/

"
. You cannot simply to decide to change tax rates after an event . Windfall taxes would prevent future investments and companies might asoleave the country. The good years simply make up for the poor ones . In any event a windfall tax is a tax on ordinary working people. . Pensioners with investments in these companies rely on the dividend income and in additional many pension funds invest in utility companies.

Your MP is hardly going to want to penalise ordinary working people unless they are a member of either the Labour Party or Libersl Democrats. The Conservatives are still the majority party so common sense prevails.

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By (user no longer on site)
over a year ago


"If you, like me is in disgust over not taking profits from Energy Wholesalers and Producers to place this Winter's and the next few onto us and our Children in years to come.

This Winter is the first of many with high Energy prices.

I suggest writing to your MP to make it known it is immoral and unfair.

https://www.writetothem.com/

. You cannot simply to decide to change tax rates after an event . Windfall taxes would prevent future investments and companies might asoleave the country. The good years simply make up for the poor ones . In any event a windfall tax is a tax on ordinary working people. . Pensioners with investments in these companies rely on the dividend income and in additional many pension funds invest in utility companies.

Your MP is hardly going to want to penalise ordinary working people unless they are a member of either the Labour Party or Libersl Democrats. The Conservatives are still the majority party so common sense prevails. "

Desperate

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By *rFunBoy OP   Man
over a year ago

Longridge

Very..

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By *rDiscretionXXXMan
over a year ago

Gilfach


"If you read Windfall Law, you'd understand the difference between day-to-day profit and extraordinary profit from an unforseen event."

There is Windfall Law?

Can you tell us how to find it?

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By *V-AliceTV/TS
over a year ago

Ayr


"If you, like me is in disgust over not taking profits from Energy Wholesalers and Producers to place this Winter's and the next few onto us and our Children in years to come.

This Winter is the first of many with high Energy prices.

I suggest writing to your MP to make it known it is immoral and unfair.

https://www.writetothem.com/

. You cannot simply to decide to change tax rates after an event . Windfall taxes would prevent future investments and companies might asoleave the country. The good years simply make up for the poor ones . In any event a windfall tax is a tax on ordinary working people. . Pensioners with investments in these companies rely on the dividend income and in additional many pension funds invest in utility companies.

Your MP is hardly going to want to penalise ordinary working people unless they are a member of either the Labour Party or Libersl Democrats. The Conservatives are still the majority party so common sense prevails. "

They aren't the majority party - the FPTP voting system gives them a majority of seats in Parliament.

That's why the UK is not, like Germany, a representative democracy. I understand that you don't care about that, or acknowledge the maths.

Btw, I won't be writing to my MP. My MP isn't a Tory, so they are capable of understanding when something is immoral or unfair.

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By *I TwoCouple
over a year ago

PDI 12-26th Nov 24


"these companies should never have been sold off, they must be re nationalized so government has control of prices "

If the energy companies had been nationalised you'd probably have been paying current prices or more 15 years ago

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By (user no longer on site)
over a year ago

I see the old pension funds from shareholders chestnut has been raised. I read the other day that the percentage owed by pension funds was 0.1%.

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By (user no longer on site)
over a year ago


"I see the old pension funds from shareholders chestnut has been raised. I read the other day that the percentage owed by pension funds was 0.1%."
that feels very low. BPs top shareholders are all large institutional. The top 4 have 25pc of shares.

Now not all will be used in pensions and not all pensions will be UK. Buy I'd imagine it's more than half a percent of their clients.

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By *ackal1Couple
over a year ago

Manchester

[Removed by poster at 09/09/22 18:19:33]

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By *ackal1Couple
over a year ago

Manchester

BP and in fact Shell shares are 75% owned by US institutions. This is a mixture of onshore in the US and offshore in Caribbean.

So to put it another way the tax payers of this country are subsidising through high energy bills and tax the financial savings and pensions of American citizens with very few U.K. pensioners having any real holdings. One pension fund is the U.K. civil service pension which has a small holding fund but that’s about it. The Norwegian wealth fund has huge holdings in offshore oil both here and in Norway. Giving this country’s wealth away yet again.

When will people wake up to the fact for thirty years we have given away this country’s wealth by selling off our basic infrastructure.

Thirty years of water privatisation and £70B paid to shareholders mostly 65%+ foreign owned. So how are those leaks and the pumping of raw sewage into our rivers going? Nice eh. £70B plus interest is a lot of infrastructure building and leak fixing.

Unfortunately the reality is £70B has bought a lot of yachts and nice properties around the world. Good to see we’re so charitable. Oh wait lots of you complain about foreign aid. PMS

The Big Bang encouraged greed and it mostly benefitted the city. Joining the EU boosted trade and in thirty years of EU membership our economy has doubled. One question .. where’s the money?

Btw too low a pound is not good for manufacturers as we are a net importer of raw materials so paying higher prices on imports makes both U.K. goods and exports more expensive resulting in lost sales. Read the loss of business into the EU to confirm.

As others have clearly tried to explain, buying oil and gas with weak sterling against a stronger dollar is catastrophic for business.

The retailers of energy have had a hard time and many have closed. The wholesalers and producers along with the leech traders are opening the champagne daily.

Brexit has caused an annual loss of tax to HMRC of £60B a year and rising. Brexit didn’t start the war it just made us poorer and as a result it is hurting us far more.

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By *olly_chromaticTV/TS
over a year ago

Stockport


"If you, like me is in disgust over not taking profits from Energy Wholesalers and Producers to place this Winter's and the next few onto us and our Children in years to come.

This Winter is the first of many with high Energy prices.

I suggest writing to your MP to make it known it is immoral and unfair.

https://www.writetothem.com/

. You cannot simply to decide to change tax rates after an event . Windfall taxes would prevent future investments and companies might asoleave the country. The good years simply make up for the poor ones . In any event a windfall tax is a tax on ordinary working people. . Pensioners with investments in these companies rely on the dividend income and in additional many pension funds invest in utility companies.

Your MP is hardly going to want to penalise ordinary working people unless they are a member of either the Labour Party or Libersl Democrats. The Conservatives are still the majority party so common sense prevails.

Desperate "

If Pat hates it, then we know it's a damn good idea.

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By (user no longer on site)
over a year ago

We don't buy the 'it will deter businesses from investing' rubbish.

So you have energy companies....who deal in a product everybody needs and who would end up with smaller profits if you put a windfall tax on them (but still profit)

On the other hand you have every other type of business with massively increased costs on fuel, supply, and goods/equipment due to high fuel costs.

Sorry, we don't buy their 'windfall tax on energy companies would deter investment' argument.

What sounds far more plausible is it is being done deliberately to force us to use less fuel and force social change.

Another reason could be the current government are just winging it with the full knowledge they will be voted out next election and may as well let Labour try to clear up the mess.

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By (user no longer on site)
over a year ago


"Why should any business hand over their profits to the government?

Business employ millions of people so they can earn, pay millions in PAYE, Cooperation tax, high business rates, collect Vat for HMRC etc, etc.

They need profit to be able to invest in their future. How many energy suppliers went bust a few months ago?"
Why should tax payers subsidise corporate profits? Thats what's happening, those "suppliers" went bust because they speculated on energy futures and got margin called. If it was a free market, the govt would not step in. The majority of users would not be able to pay, the suppliers would quite rightly be liquidated. And the energy producers would have to get by with far less profits.

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By (user no longer on site)
over a year ago


"these companies should never have been sold off, they must be re nationalized so government has control of prices

If the energy companies had been nationalised you'd probably have been paying current prices or more 15 years ago"

Yeah right! I think the govt had a 75% stake in BP before Thatcher got involved. So at least going by your logic we would have been getting 75% of that price back into the exchequer. Rather than the lose lose situation we find ourselves in now.

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By (user no longer on site)
over a year ago

Here is a novel idea.. end Putin's reign go full out and take over the resources everyone is crying about. Otherwise just suck up the inconvenience until things improve.

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By *olly_chromaticTV/TS
over a year ago

Stockport


"Here is a novel idea.. end Putin's reign go full out and take over the resources everyone is crying about. Otherwise just suck up the inconvenience until things improve. "

Nice simple idea... Apart from the fact that rather than go quietly the madman would press the nuclear button... There have already been a number of near misses when the russians have been shelling the area around the Zaporizhzhya nuclear plant, and the emergency cooling system for the reactor has been damaged. Quite clearly Russia is at a point where they have very little concern about the possibility of nuclear catastrophe.

Yes the world cannot be held hostage at the hand of a nation that seems to be on a suicide course, but clearly any all out attack by the west against Putin could easily lead to the end for everyone.

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By (user no longer on site)
over a year ago


"Here is a novel idea.. end Putin's reign go full out and take over the resources everyone is crying about. Otherwise just suck up the inconvenience until things improve.

Nice simple idea... Apart from the fact that rather than go quietly the madman would press the nuclear button... There have already been a number of near misses when the russians have been shelling the area around the Zaporizhzhya nuclear plant, and the emergency cooling system for the reactor has been damaged. Quite clearly Russia is at a point where they have very little concern about the possibility of nuclear catastrophe.

Yes the world cannot be held hostage at the hand of a nation that seems to be on a suicide course, but clearly any all out attack by the west against Putin could easily lead to the end for everyone."
then why cry about the costs ? The alternative is much more serious. it was a planned attack globally to enact a public response. From what I see here it worked.

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