• Privacy policy
  • T&C’s
  • About Us
    • FAQ
    • Meet the Team
  • Contact us
TLE ONLINE SHOP!
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
  • JOBS
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
  • JOBS
No Result
View All Result
The London Economic
No Result
View All Result
Home News

Best reactions to windfall tax u-turn but calling it a profits levy instead

"Amazing really that Rishi Sunak has found £10BN under the magic money tree just the day after #partygate what an incredible coincidence."

Joe Mellor by Joe Mellor
2022-05-28 10:29
in News
FacebookTwitterLinkedinEmailWhatsapp

The PM didn’t want this windfall tax.

In February, Mr Johnson said the move would “clobber the oil and gas companies”, adding: “It would be totally ridiculous, and it would raise prices for consumers.”

The following month he said the move would “simply be to see the oil companies put their prices up yet higher”.

And he said it would make it “more difficult” for them to be “divesting from dependence on Russian oil and gas”.

But as the chances of a U-turn grew ever more likely, Mr Johnson voiced his opposition in increasingly more moderate language.

A fortnight ago, after the BP boss said his firm’s investment plans would not be hindered by such a tax, Mr Johnson refused to rule out taking the action.

But he said: “I don’t like them. I didn’t think they’re the right thing. I don’t think they’re the right way forward.”

RelatedPosts

Corbyn’s message to Royal Mail as workers balloted on summer strike action

Watch: Liz Truss skewered over questions on government links to ‘authoritarian’ Saudi Arabia

Watch: Legal mind explains why Govt lacks legal authority to dump NI Protocol

Watch: Fury as Tory MP says he doesn’t agree women ‘have absolute right to bodily autonomy’

Then on Monday he said he was “not attracted, intrinsically” to new taxes but stressed “no option is off the table” as he cited the need to help the public through the “aftershocks” of Covid and the Russian invasion of Ukraine.

U-turn

But turn they did, as the Labour Leader predicted. Just a week after voting down Ed Miliband’s amendment to force a windfall tax on oil and gas companies…you couldn’t make it up.

Anyway, in came the change and instead of calling it a windfall tax it was dubbed an ‘energy profits levy,’ which fooled literally nobody.

We are introducing a temporary, targeted Energy Profits Levy charged on profits of oil and gas companies at a rate of 25%.

We're also building in a new investment allowance that doubles the relief for the energy companies that invest their profits in the UK. pic.twitter.com/nOS87Uzz0I

— Rishi Sunak (@RishiSunak) May 26, 2022

Reactions

The government must really think we are daft:

1.

Our only hope is someone’s sitting on a scandal so big the conservatives announce universal basic income

— James Felton (@JimMFelton) May 26, 2022

2.

We say "windfall tax", the Tories say "temporary targeted energy profits levy".

The Tories say "Prime Minister", we say "law-breaking chancer squatting in Number 10".

— Edwin Hayward 🦄 🗡 (@edwinhayward) May 26, 2022

3.

Chancellor of the Exchequer: pic.twitter.com/2lCCv4zizg

— Larry the Cat (@Number10cat) May 26, 2022

4.

Let me get this straight…

Labour put forward a Windfall Tax they hoped the Tories would vote for it.

Tories called it communist and blocked it.

And now Robert Buckland is saying they blocked it because it wasn't big ENOUGH.

I can smell the bull*** through the screen!#BBCqt

— Femi (@Femi_Sorry) May 26, 2022

5.

pretty sure Tory MPs were whipped to vote against an energy windfall tax a long time ago, or was it last week

— Jim Pickard (@PickardJE) May 26, 2022

6.

The #WindfallTax we have announced today is nothing to do with the one Labour have been demanding for the last few months. Theirs was to help people with their bills, whereas ours is to help me distract people from the #SueGrayReport.

— Parody Boris (@Parody_PM) May 26, 2022

7.

What an incredibly innovative idea. How did you manage to think that up…?https://t.co/oLGBX5ao2H

— Flims Radar (@FlimsRadar) May 26, 2022

8.

Vatican investigates possible miracle as UK government inexplicably finds £10bn for energy bills just 24 hours after the Sue Gray report.

— Have I Got News For You (@haveigotnews) May 26, 2022

9.

TIP FOR JOURNALISTS

If you can’t remember Rishi Sunak’s word salad policy ‘temporary targeted energy profits levy’, simply refer to it by its real name – #LaboursWindfallTax

— Ron Moore MP (@RonMooreMoreRon) May 26, 2022

10.

"Give everyone free money. That should make us popular."

— Otto English (@Otto_English) May 26, 2022

11.

Rishi Sunak: “Everyone makes mistakes… To change course is a sign of strength not weakness.”

Only if you do it BEFORE you hit the iceberg.#WindfallTax #Tosser

— Count Binface (@CountBinface) May 26, 2022

12.

🎶 Drove my Chevy to the temporary targeted energy profits levy, did a screeching u-turn 🎶

— Jane Merrick (@janemerrick23) May 26, 2022

13.

So we are now at the point where the only way the Govt tackles real issues is when it’s trying to destract from its embarrassments. That’s not a plan… it’s a bribe

— Deborah Meaden 🇺🇦 (@DeborahMeaden) May 26, 2022

14.

'Windfall tax? Why, I'm a temporary targeted energy profits levy' pic.twitter.com/TsBC3DnBQv

— Toby Earle 🇺🇦 (@TobyonTV) May 26, 2022

15.

Think I saw Temporary Targeted Energy Profits Levy at a festival once, remember them saying their sound was inspired by their heroes The Windfall Tax

— Liam Thorp (@LiamThorpECHO) May 26, 2022

16.

amazing really that Rishi Sunak has found £10BN under the magic money tree just the day after #partygate what an incredible coincidence

— dave ❄️ 🥕 🧻 (@davemacladd) May 26, 2022

17.

Buried in the small print of Sunak's windfall tax announcement is the fact that oil & gas firms will in future get a 91p tax saving for every pound they invest in gas and oil extraction in the UK

— Will Thorpe (@withorpe) May 26, 2022

18.

So the windfall tax that every single Tory MP voted against last week is now a great idea this week!

— Jon Jones (@JonJonesSnr) May 26, 2022

19.

7 months ago @EdwardJDavey
called for a windfall tax. Conservatives said no and have resisted the idea ever since while more and more people have been dragged into poverty. pic.twitter.com/YBs5RI1swx

— Liberal Democrats (@LibDems) May 26, 2022

20.

Unbelievably, #Government have confirmed that oil and gas companies can largely avoid the windfall tax by re-investing their profits.

And there will be no tax relief for investment in renewables!

You read correctly. NO TAX RELIEF FOR INVESTMENT IN RENEWABLES 🤯#WindfallTax pic.twitter.com/M4CEjp95MI

— Natalie Bennett (@natalieben) May 26, 2022

Related:

Tags: Cost Of Living Crisis

Since you are here

Since you are here, we wanted to ask for your help.

Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.

Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.

If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.

To donate or subscribe to The London Economic, click here.

The TLE shop is also now open, with all profits going to supporting our work.

The shop can be found here.

You can also SUBSCRIBE TO OUR NEWSLETTER .

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

Trending on TLE

  • All
  • trending
Abdollah

‘Rescue us’: Afghan teacher begs UK to help him escape Taliban

CHOMSKY: “If Corbyn had been elected, Britain would be pursuing a much more sane course”

What If We Got Rid Of Prisons?

More from TLE

Brit died in fall on 40th birthday during Turkish holiday after her family believe drink was spiked

Generate a Steady Income through Automated Bitcoin Trading

‘Genetic pain and suffering:’ Prince Harry appears to criticise his upbringing by Prince Charles

Video – Journalist caught hunting Pokemon during State briefing

Watch – Headteacher pays tribute to Drayton Manor victim Evha Jannath

Fishing industry could be ‘destroyed’ without customs changes, MPs warn

Two men were on top of moving freight train when electrocuted in East London

Dubai blamed for Covid cases abroad as social influencers in race to get back to UK

Patel tries to deport whistle-blowing ex-Iranian police officer to Rwanda

Ban for clinic’s designer vagina ad that ‘trivalised’ procedure

JOBS

FIND MORE JOBS

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Meet the Team
    • Privacy policy
  • Contact us

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.