Retrospective tax changes.....

[d000hg]

We already have a windfall tax its called Corporation Tax

Not entirely. WF applies to exceptional profits not directly generated by the company itself. Like in this example where the suppliers don't actually control the price.

[tazdevil]

We already have a windfall tax its called Corporation Tax and the big energy firms pay a 10% supplement on top so the exchequer is already benefiting. And when the demand comes to invest more to replace oil and gas based production with green technology what money is going to pay for that if we've already taxed and frittered the investment funds? Then there's our pension funds which will be battered by unnecessary and damaging windfall taxation

We need to invest in energy independence, new energy resources and infrastructure so it'd be better if the government directed its efforts that way rather than playing politics with and wasting our future wealth potential.

[jamesbrown]

That is kind of the nature of windfall taxes. They are usually prompted by windfalls that happened recently or are ongoing, not hypothetical future ones.

[GregRickshaw]

You know how much we all shudder when we see the R word in a post!

[SimonMac]

https://www.bbc.co.uk/news/business-62542541

Keir Starmer calls for extra windfall tax to freeze energy bills



The party says its plan would be paid for in three ways:

• Backdating the windfall tax to January and accounting for higher oil and gas prices to raise £8bn
• Dropping the £400 energy rebate and other pledges made by Tory leadership candidates to raise £14bn
• By reducing inflation with lower energy bills, leading to a cut in government debt interest payments of £7bn