'Excess Profits'

[Paigntonian]

is a ridiculous phrase. Businesses exist to make profits. If a company makes a million one year, then three million the next year, what proportion of the increase is somehow 'excessive'. The point is not what they make but how they are taxed. Many may want to see a higher corporation tax rate and many may not. And that's the political decision.

[naomi24]

Hitting business hard with taxes discourages growth and investment and when that declines everything else is affected. Jobs fold, pensions plummet, and there are fewer incoming taxes, all of which results in a greater burden on society, and ultimately a severe blow to the economy as a whole. 'Tax the huge profits' sounds like a simple solution - but it isn't.

[douglas9401]

The companies were bobbing along nicely before it hit the fan.

Removing a chunk of this surprise benefit will do nothing to affect that position and can be used more widely to soften the blows that are coming.

Capitalism doesn't have to equate with selfish, greedy bustard.

[Untitled]

the big five energy companies are either owned by state-owned utility companies from other countries (EDF) or by American investment consortiums like blackrock or invesco. That is where the majority of profits generated by our energy market goes...

[Untitled]

indeed douglas capitalism is quite a versatile system. The capitalism we live under now is very different to the capitalism of the past and indeed quite different to the capitalism of other countries... there is no reason we can't do things differently...

i might be remembering this incorrectly but as i recall Labour's plan to nationalise the UK's energy infrastructure was costed at £60 billion... well, the package being announced by Truss for this winter alone is going to be £120 billion at a minimum...