UK unemployment down, vacancies up, wages down, inflation up, universal credit down, National Insurance up.
The Cost of Living crisis is hitting hard. Hard enough to find money in a Windfall Tax?
A windfall tax would deter investment, the ortho dogma declares. Not necessarily in this case, however, with the exogenous shocks of Covid and War dis-equilibriating the economy. Nonetheless one has been out in force warning how an unexpected tax would mess with future expectations and deter investment. Blissfully certain of one’s aggregated textbook abstractions one continues to parrot ortho-economic dogma, habitually unperturbed by really existing realties. It’s a matter of principle.
Austerity hasn’t gone away either, you know…
Just follow the money (and the pictures…
ft.com 28-5-2022 A striking U-turn to alleviate the UK cost of living crisis
telegraph.co.uk 25-5-2022 Windfall tax could help pay for the poorest five million to get an increase in benefits – Profits from energy firms could be used to help people through the cost of living crisis – By
reuters.com 12-5-2022 BP chief says UK windfall tax would not affect investment plans
LONDON, May 12 (Reuters) – A British windfall tax on energy companies would not change BP’s 18 billion pound ($22 billion) investment plans in the country to 2030, Chief Executive Bernard Looney told shareholders on Thursday.
Britain’s Conservative government has rejected calls by the opposition Labour Party to levy a windfall tax on energy companies which have benefitted from high oil and gas prices, saying such a tax would deter investment.
“Our 18 billion pound plans are not somehow contingent on whether or not there is a windfall tax,” Looney said at an annual shareholder meeting.
bloomberg/youtube 2-2022 BP CEO Bernard Looney On The U.K. Energy Crisis
carbon brief.org 13-5-2022
telegraph.co.uk/business 3-5-2022 bp-boss-insists-profit-jump-will-benefit-pension-savers
theweek.co.uk 5-5-2022 why-the-government-opposes-a-windfall-tax-on-oil-and-gas-profits
UK Levelling Up Unfolding
bbc.co.uk 18-5-2022 newsnight
express.co.uk 25-4-2022 Foodbanks on the brink of collapse after a surge in hardship – FOOD banks are “at risk of being overrun” as the cost-of-living crisis tightens its grip. By EMILY BRAEGER