Windfall Tax

[Malckent]

Re: Windfall Tax

Let's hope that folks spend the money wisely throughout the winter and not blow it all and end up struggling again.

[Elwood Blues]

Re: Windfall Tax

So here it is..

https://www.bbc.co.uk/news/live/uk-61591398

There will be a temporary windfall tax on the profits of oil and gas companies at a rate of 25%

1 / Every household in the UK is to get an energy bill discount of £400

2/Those on the lowest incomes - around eight million people supported through welfare system - will receive one-off cost of living payment of £650 in two lump sums (first in July, I read..)

3/ Pensioners who receive winter fuel payment will receive a one-off payment of £300

4/ Six million people who receive disability allowance will get a payment of £150

There will be a temporary windfall tax on the profits of oil and gas companies at a rate of 25%

Energy Profit Levy please James (!!)

[Harry Paget Flashman]

Re: Windfall Tax

So what happens next year when price are still sky rocketing?

[dandywarhol]

Re: Windfall Tax

Made up on a back of a fag packet.
Me 70 year old pensionerI'll get £150 already received. £400 grant.£500 winter heating allowance.
Hardworking family next door. Couple of kids. Mortgage etc. They will get the £400 grant plus already received £150.

[Alfresco]

Re: Windfall Tax

'Every household in the UK is to get an energy bill discount of £400' There are 2.5 million millionaires in the UK they'll be glad of it.

[chrisp_1927]

Re: Windfall Tax

Good move, 25 % headline figure instead of the 10% being suggested. The investment relief will bring the actual extra tax paid down from that 25%, hopefully they will have some proper checks and balances to make sure any 'investments is genuine.


Interesting to see that the share prices of Shell and BP didn't change today, guessing the extra tax had already been factored in.

[life on mars]

Re: Windfall Tax

Energy Profit Levy please James (!!)

It's a levy, which is loaded and different and clever than pure windfall as every one pound taxed up to 91p can be reclaimed back by energy firms invest back in green solutions.

400 quid each household some get 650

Clever better than Labour more direct plan ..

It's probably not enough though as it will not stop here , lower income earners have been looked after on this one .

[the other bob wilson]

Re: Windfall Tax

It's a levy, which is loaded and different and clever than pure windfall as every one pound taxed up to 91p can be reclaimed back by energy firms invest back in green solutions.

400 quid each household some get 650

Clever better than Labour more direct plan ..

It's probably not enough though as it will not stop here , lower income earners have been looked after on this one .

And yet another dig at Labour despite the Government, rightly, adopting Labour party policy - it's a windfall tax, no matter how you and the Government try to present it as something different.

[poc]

Re: Windfall Tax

I would imagine it's automatic. Any household on Universal Credit or other means tested benefits would get the £650 I guess. Likewise any pensioner already receiving said benefit would get it automatically.

hope its not the council sorting them , we still havent had the first one yet £150