• Privacy policy
  • T&C’s
  • About Us
    • FAQ
  • Contact us
  • Guest Content
  • TLE
  • News
  • Politics
  • Opinion
    • Elevenses
  • Business
  • Food
  • Travel
  • Property
  • JOBS
  • All
    • All Entertainment
    • Film
    • Sport
    • Tech/Auto
    • Lifestyle
    • Lottery Results
      • Lotto
      • Set For Life
      • Thunderball
      • EuroMillions
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
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.”

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.

RelatedPosts

Matt Handcock says discharging patients into care homes was ‘least-worst’ Covid decision in huge outburst

MPs vote to proscribe Palestine Action as terrorist group

Donald Trump threatens to arrest and deport ‘communist’ New York mayor candidate Zohran Mamdani

Angela Rayner attacks Nigel Farage’s Brexit promises

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 Rishi Sunak (@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 🇺🇦 Threads tobyontv (@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 ❄️ 🥕 🧻 (@mrdavemacleod) May 26, 2022

17.

https://twitter.com/withorpe/status/1529873995184709633

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

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

About Us

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

Read more

SUPPORT

We do not charge or put articles behind a paywall. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism.

DONATE & SUPPORT

Contact

Editorial enquiries, please contact: [email protected]

Commercial enquiries, please contact: [email protected]

Address

The London Economic Newspaper Limited t/a TLE
Company number 09221879
International House,
24 Holborn Viaduct,
London EC1A 2BN,
United Kingdom

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

← Kathy Burke’s response to Nadine Dorries’ rap is a real mic drop ← Watch: Mhairi Black’s warning of fascism goes viral again after PM changes ministerial code
No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

-->