Truss slithers towards Windfall Tax

[JohnD]

Maybe we'd have been better off if the Tories hadn't chosen another idiot.

PMQs: Truss rules out windfall tax to fund her billion pound energy bill freeze

LIZ TRUSS has rejected calls to fund her billion-pound bill freeze by taxing the profits of energy companies.

www.heraldscotland.com

"Sir Keir pointed to Treasury analysis which predicts oil and gas producers could soon see £170 billion of “excess profits” over the next two years.

“The Prime Minister knows she has no choice but to back an energy price freeze, but it won’t be cheap and the real choice, the political choice is who is going to pay,” he said.

“Is she really telling us that she is going to leave this vast excess profits on the table and make working people foot the bill for decades to come?”


Ooops

Power giants to face ‘windfall tax’ after all as Liz Truss delivers U-turn

Prime minister accused of ‘another screeching U-turn’ having previously rejected calls to impose levy

www.theguardian.com

 

[blup]

The pm is a remainer libdem who isnt for turning

Blup

 

[JohnD]

Used to be

But was given the job by tory brexers.

 

[gant]

The Tory members were given a choice between Truss and Sunak both globalist remainders, think the term Hobson's choice seems appropriate in this case.

 

[Pat ex]

The Tory members were given a choice between Truss and Sunak both globalist remainders, think the term Hobson's choice seems appropriate in this case.

I think gant is slipping into the world of QAnon.
He's probably searching now for the next conspiracy theory to propagate.

 

[JohnD]

The Tory members were given a choice between Truss and Sunak both globalist remainders, think the term Hobson's choice seems appropriate in this case.

Both Brexers.

And they preferred the idiot.

That's Tory Brexers for you.

 

[ajohn]

Her idea is that some electricity generators are unfairly making high profits as they don't use gas to generate it. So has the idea of putting a cap on what they can charge. Trying to get that sorted is an idea any party would come up with. It's amazing that it hasn't come up before.

The G7 has being trying to figure out how to fix a price cap on Russian oil for some time now. Biden mentioned it ages ago. This probably stirred up her neurons. Great press if it can be done.

Some EU countries want to do similar with oil from anywhere. Only buy at a certain price or refuse to buy if not. Tricky but at least with electricity they are somewhat tied to the UK. However a new windmill price is likely to be higher than it was and the companies that get involved do so for a profit.Interest in the N Sea dwindled because there was no longer enough money in it. It all depends on the current cost of gas and oil from other sources. Israel reckons it is going to make billions when it opens up it's field and an adjacent country has hopes too. More gas on the market = lower costs in the end. IMHO the only answer to all of this is for a country to own it's own sources of power. Rather unTory.

 

[ellal]

Both Brexers.

And they preferred the idiot.

That's Tory Brexers for you.

To be fair, just like all politicians they are simply people who are willing to prostitute themselves and their beliefs to get where they want...

And in order to get to the top they don't care who they f*ck off/over/with!

 

[Justin Passing]

I'm surprised that Truss hasn't emphasized that the power co's DO pay tax on all their profit (if that's wrong I'd like to hear it), but /and/being reasonable and all that with these honourable companies, entered into an an investment deal where they spend loads on Green alternatives.
That could cover a multitude.
They have to do some of that anyway so why not make a meal of it - the optics would be better, as well, FFS, as being justified.

I keep hearing figures thrown around to show how enormous or irrelevant the profits are, in the scheme of payments being made. Some say it would be a few quid per customer, because of this that and the other. Depends how biased they are. I dunno.

 

[Notch7]

Latest word on the street is there will be a U-turn on corporation tax.

that £65b has to come from somewhere.

 

[JohnD]

"Another person close to the Number 10 discussions said that up to £24bn of tax cuts could be reversed, including the flagship £18bn plan to cancel a scheduled increase in corporation tax next year. One person involved in the talks said: “The mood in the bunker is grim.”

The pound and UK government bonds rallied on Thursday amid speculation of a U-turn."

Kwasi Kwarteng leaves IMF meetings early as UK prepares to rip up tax cut plans

Chancellor makes hasty departure from Washington while markets rally on hopes of reversal of mini-Budget proposals

www.ft.com

"Liz Truss prepares to rip up tax cut plans
Markets rally amid expectations prime minister will row back on ‘mini’ Budget proposals"


“People are petrified of the markets,” said one Conservative MP close to the Truss team. “They also know how serious this is politically.”

Tory MPs were in despair over the political and economic chaos that has overcome Truss’s administration since the tax cuts were announced on September 23, and the prime minister’s future is being called into question.

One former cabinet minister said: “We have to unite as a team and say her time is up. Our country is burning. People are suffering. This is about duty and public service.”

 

[Odds]

Bankers Bonuses Double Since 2008 Crash​

 

[Pat ex]

To be fair to Truss, she did win on a ticket of 'getting things done'

"I can lead, I can make tough decisions and get things done," says Liz Truss | Foreign Secretary Liz Truss has opened today her campaign for Conservative leadership, saying she is ready to lead from day one. | By Channel 5 News | Facebook

1.8K views, 20 likes, 1 loves, 87 comments, 6 shares, Facebook Watch Videos from Channel 5 News: Foreign Secretary Liz Truss has opened today her campaign for Conservative leadership, saying she is...

www.facebook.com

She's got things done alright, we've all been done up like a kipper, and it didn't take her long at all.

 

[Notch7]

 

[Justin Passing]

Perhaps her only hope is to find some problem, dive in and solve it. That's what she said she could do.
Scotland, Ireland, fishing, migrant boats?US trade deal? Off you go Trussy, get something done.