BP and Shell currently pay 40% tax on profits in the UK

Treasury estimated the a windfall tax would result in an income of £5 billion per year.

Truss' energy cap plan is estimated at costing circa £170 billion over 18 months? So windfall tax covers around 4.5% of the bill?

What I would expect to see is Truss granting a large number of new oil/gas field licences to rejuvenate North Sea oil and gas production. BP / Shell would get these free but be expected to sell energy to the UK at a reduced/fixed price for a number of years. Guarantee energy supply at reasonable price until offshore wind takes over in 15-20 years.

Posted By: Timmy_Goat on September 6th 2022 at 14:14:48

Message Thread

I *think* that this price freeze malarkey (General Chat) - Old Git, Sep 6, 12:35:16
- Send me your banking details OG,I'll send it to you direct.👍 (n/m) (General Chat) - protheroe fitzgibbon, Sep 6, 13:04:05
  - Good man (General Chat) - Old Git, Sep 6, 13:40:17
- think again (General Chat) - CWC, Sep 6, 12:47:53
  - Ha ha (n/m) (General Chat) - Old Git, Sep 6, 12:53:39
- I'll be honest, it feels to me like the whole world has gone mad (General Chat) - Under soil heating, Sep 6, 12:42:43
  - Utterly bonkers (General Chat) - Old Git, Sep 6, 12:55:11
    - BP and Shell currently pay 40% tax on profits in the UK (General Chat) - Timmy_Goat, Sep 6, 14:14:48
      - If it was that easy, why haven't we been doing that for years? (n/m) (General Chat) - jamesward, Sep 6, 14:21:28
        
        Erm. There was opposition to North sea energy (General Chat) - Timmy_Goat, Sep 6, 19:44:02
  - People will still be cutting back usage (General Chat) - SCC 28, Sep 6, 12:51:14
    - Yes, but not as much as they would (n/m) (General Chat) - jamesward, Sep 6, 13:30:39
      - Could increase the cap to 20K (General Chat) - SCC 28, Sep 6, 13:54:44
      - Absolutely, this plan (if it’s what she had in mind) (General Chat) - Old Git, Sep 6, 13:42:07
        
        I’ll still be cutting back as much as I would (General Chat) - SCC 28, Sep 6, 13:58:03
        
        ^ lives in a shoebox (n/m) (General Chat) - jamesward, Sep 6, 13:59:48
        
        January might be hard (General Chat) - SCC 28, Sep 6, 14:28:13
        
        Can I please have one more lump of coal (n/m) (General Chat) - Ken Breadstick, Sep 6, 16:33:02
        
        … (General Chat) - Under soil heating, Sep 6, 14:07:55
        
        Not a hand out though, as we all pay for it long term (General Chat) - jamesward, Sep 6, 13:49:05
        
        Sooner or later, one way or the other, whatever is done (General Chat) - paulg, Sep 6, 14:05:54
        
        Yes, but there are ways of ensuring that those who can least afford it (General Chat) - jamesward, Sep 6, 14:07:16
        
        100% (General Chat) - Under soil heating, Sep 6, 14:10:07
        
        Yes but they just need to do something short term sureky? (General Chat) - Jim, Sep 6, 16:56:26
        
        suppliers can hardly means test customers (General Chat) - CWC, Sep 6, 15:01:50
        
        Give it as a handout and mega-tax the rich to recover the costs (General Chat) - jamesward, Sep 6, 15:04:34
  - yeah its mental (General Chat) - CWC, Sep 6, 12:50:13
    - i've stocked up on hosepipes just in case (General Chat) - Tombs, Sep 6, 12:55:13
      - good plan (General Chat) - CWC, Sep 6, 12:57:58
        
        we had some fuckers steal a full tank of our heating oil a while back (General Chat) - Tombs, Sep 6, 13:06:04
- Surely it’s just a freeze on the price per KWh though? So those of us (General Chat) - Jim, Sep 6, 12:39:07

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