Windfall taxes on energy companies

Should the government impose windfall taxes in the energy companies?

The Business Secretary, John Hutton, will not answer the question save as to say that the government is looking at all the options. That is a hint that the windfall tax may be a possibility. The idea that is being strung up the flagpole to see if anyone will salute it, is that the energy companies – the electricity and gas suppliers and the oil companies should be relieved of some of their record profits by the taxman, who would, Robin Hood like, pay them over to people who cannot afford soaring energy bills. Continue reading