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26th May 2022, 19:47 | #11 |
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These kind of discussions are always polarising. Corbyn et al held out Venezuela as a good example of how the state should spend the 'peoples' oil profits'. Note how well that turned out with 6 million and counting leaving the country in a desperate search to earn a crust!
All taxation is parasitical on enterprise. We need a public/private sector balance for sure, but will probably never agree on what the correct balance is. When the parasitic element gets too big, the host dies or moves elsewhere. See 95% supertax imposed by labour in the 70's and the resultant exodus of high profit enterprises. Actual tax take from a 95% tax was almost zero. Governments always rob the Peters to pay the Pauls. When the Pauls become the majority, the Peters become an endangered species (and will leave that jurisdiction and set up elsewhere if feasible). When a government has to issue rebates to large numbers of people, that indicates that taxes are too high imho. I'd love to see all governments of all stripes being legally required to balance their books like the rest of us. Never going to happen though. They rely on creating inflation to pay back the debts incurred in overpromising to the Pauls. Prices are not going up. It is the value of the various major currencies going down in lockstep worldwide. Britain alone created over £400 billion to deal with the plandemic. That is currency devaluation and inflation on a grand scale. Then to appease the green lobby we are witholding licences on our vast reserves of fuel. Less production fought over by more issued currency equals higher prices. Add in loss of Russian gas/oiletc, we have the perfect storm. Monkey pox for another plandemic anyone? |
26th May 2022, 20:42 | #12 |
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Very true!
What problems can we think of where the solution has been provided by the government? And how many where they create or increase problems? I cannot support windfall (retrospective) taxation. If the government cared one iota about our energy struggles they would remove all taxation and levies from it tomorrow. |
27th May 2022, 07:03 | #13 | |
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macafee2 |
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27th May 2022, 07:09 | #14 | |
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Last edited by another_clean_sheet; 27th May 2022 at 09:19.. |
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27th May 2022, 09:18 | #15 |
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Just a brief observation, 'the price' in question is very largely an opportunistic grab while the going is good.
The manufactured state of panic, and the gullibility of the paying public, are symptomatic of the principle of maximising profits, and therefore managers/directors huge rewards. The only thing apart from that is the balance sheet. That is a miracle of financial wizardry and misdirection that could have been written by Enid Blyton. .
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27th May 2022, 10:33 | #16 | |
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I agree re the percentage return. Windfall taxes are a vote-winning/bad-news deflection tool. The real answer lies in nationalisation of utilities and energy production as well as making the cost of energy high enough that the population has to reduce consumption of non-essential goods and services. Then all profits will by definition be a windfall for the population.
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27th May 2022, 12:54 | #17 | |
I really should get out more.......
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I suppose all will be forgiven and forgotten in due course, when lashings and lashings of knighthoods etc are being served up for 'services' to the country etc etc. No wonder the rest of the world think the British political system is a running comedy, the Americans apparently, tune in to watch PM's question time because they think its a soap opera!. Last edited by grivas; 27th May 2022 at 12:56.. Reason: spelling |
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27th May 2022, 13:34 | #18 |
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It is a soap opera! Unfortunately the british people were conned at the referendum and also the last election. Sadly Brexit was never a good idea, slowly but surely this realization will become apparant to the majority . BoJo was actually more of a european than a brexiteer, he only latched onto it as a vehicle to become PM. If only that statement referring £350m on the bus was true, the nhs is on its knees as i am finding out at the moment.The Union will be lucky to survive the next ten years. How the Tory party is going to survive being take over by this rabble of brexiteers, i dont know, i almost feel sorry for them.
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27th May 2022, 13:34 | #19 | |
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I think that may be because most of their own alternatives are even worse! If you want to see what I am talking about, watch this. https://www.youtube.com/watch?v=DRBfM709Yqc
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27th May 2022, 15:51 | #20 | |
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Windfall tax applies to oil and gas producers. In the main they are different ftrom energy companies though their are exceptions e.g. Shell. Reducing the price cap hits the wrong companies as it reduces the selling cost of fuel but not the wholesale price. |
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