Should Gordon Brown impose the windfall tax?

  1. TravelMonkey profile image58
    TravelMonkeyposted 9 years ago

    It's something which has me thinking as most taxes being imposed do, there will be winners and losers both long and short term.

    If we impose the windfall tax, we face the repercussions of higher prices from the energy companies so they can obtain any funds back. The government want to relieve the 4.5 million of us in fuel poverty but need the energy companies to assist.

    The energy companies state that they need the extra cash to build new power stations and repair existing stations in order to have a better control on fuel prices. Also, any windfall taxes will deter any foreign investors from investing money.

    The government will need around £100 billion to be in a position to build renewable power sources by 2012 in order to have 15% of all UK energy from renewable energy sources enforced by the EU. Most of this cash, the government are expecting off the energy companies.

    So we are stuck......