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seems a bit weird that they are so opposed to bringing it back
It is weird (like a lot of things these guys do). I can only think that they genuinely believe the oil majors' guff about needing the profits to invest in energy transition.
The "oh they like to give money to their mates" explanation is a bit too easy.
NickCJ-
- Businesses like certainty, and
- Businesses will either; a. invest profits back into the business - creating economic/employment/tax/etc. growth, or b. pay dividends to investors who will invest their money in other businesses and then return to 2.
If that's what you believe, that's what you believe. There is a principle at stake.
- Businesses like certainty, and
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I can only think that they genuinely believe the oil majors' guff about needing the profits to invest in energy transition
Is this a thing? I thought both BP and Shell said that windfall tax probably wouldn't affect their investment plans....or did I imagine that?
hugo7
Stonehedge
The Tories zero rated Petroleum Revenue Tax in 2016.
Not sure the details but apparently very little PRT was paid at the time but seems a bit weird that they are so opposed to bringing it back, or a variation of it.
https://www.gov.uk/guidance/oil-gas-and-mining-petroleum-revenue-tax