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An Energy Windfall Tax In All But Name?

As Labour back benchers move to push the PM towards a windfall tax on energy company profits it seems as though Mr Brown will not be railroaded into such a move. Leaks coming out of Number 10 suggest that rather than hit them with a windfall tax he may be looking to increase the cost of Pollution Permits (which are a large part of the energy supply sector) which were issued as part of the EU carbon trading scheme. So who would benefit from this?

As seems to happen on each occasion that a tax increase is suggested it looks as though those struggling to pay their energy bills will be last in the queue with the possible £500 million windfall going straight into government coffers. Surely if the authorities are looking to help the UK population to cover energy costs all they need to do is instigate a one off discount from the energy companies in a deal to see all parties benefit from the recent rise in the cost of living?

It is not rocket science, give the money back to those who need it rather than churn it through the cumbersome tax system of the UK, then various government departments until it finally arrives back with the UK electorate minus massive administration expenses.

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