Will Liz Truss really last only 17 more days?

[Uninspiredusername]

Newspaper reports as scathing as ever, and The Times suggesting Tories are lining up Sunak and Mordaunt as a duo.

can’t stand the woman but surely she’ll hold on for a bit longer - everyone was saying Boris would go much earlier than he did. And why on earth did they vote her into power in the first place 🙄

jgw1
Why was Jacob Rees-Mogg on the radio this week saying there wasn't a windfall tax?

He was talking about the new cap on renewable energy revenue announced this week - not the energy profits levy imposed by Rishi Sunak in May on the oil and gas industry.

@Clavinova is it beyond your understanding that state support might be needed as well as a windfall tax in order to keep houshold bills manageable? Especially because Germany has historically had a greater reliance on Russian gas than the UK (but is working rapidly to change this). Life isn't a zero sum game. I'm surprised you don't know that.

So there are two windfall taxes, it gets worse and worse.

I thought that this was meant to be a government for growth, growth, goveth and yet they have raised taxes even more.

pointythings
is it beyond your understanding that state support might be needed as well as a windfall tax in order to keep household bills manageable?

It's not beyond my understanding - Rachel Reeves doesn't appear to grasp it as per my link;

27 Sep 2022
“The chancellor has confirmed that the costs of the energy price cap will be funded by borrowing, leaving the eye-watering windfall profits of the energy giants untaxed.”

That’s what Labour’s Rachel Reeves told the House of Commons on Friday.

And she’s right. Do keep up.

Even in the scale of cutnpastovia's whatabout, this one has me lost.

Someone who knows what they are talking about, speaking clearly, what is supposedly wrong with that?

Here you go Clav

www.reuters.com/business/energy/tax-people-this-room-help-poor-shell-ceo-tells-energy-conference-2022-10-04/

I don't get it either. Is clav in favour of a windfall tax or not? If yes then Rachel Reeves is right and the UK should be windfall taxing on the same scale as the EU, surely? (and at the same time putting additional support in place because as said before, both are needed).

Blossomtoes
And she’s right

Channel 4 posted this title just for the fun of it then?

Labour keeps repeating misleading claim on energy windfall tax

@Clavinova any chance of you saying which claim about a windfall tax you find misleading?

Hate to tell you Clav but Lizzie Dripping is borrowing the money for the price freeze.

inews.co.uk/news/politics/liz-truss-energy-bills-gamble-with-100bn-borrowing-plan-freeze-price-cap-despite-tax-warnings-1839643

Liza Tarbuck played this earlier and I though it very apt !

@Clavinova Any thoughts on this?
www.ft.com/content/3867ad2d-bc04-46b9-89de-5995a346e0a1

Its almost as though Rishi Sunak introduced the windfall tax months ago, whilst refusing to cap energy bills, as presumably supported by the cabinet including Foreign Secretary at the time, and yet here we are months later with an unfunded cap.

jgw1
any chance of you saying which claim about a windfall tax you find misleading?
Quite a lot of it:
the Labour Party’s official Twitter account tweeted: “Under the Tories: households forced to foot the bill. With Labour: a windfall tax on excess oil and gas profits to freeze your energy bills this winter.”

However, Labour's published energy plan (costing, they say £29 billion for 6 months) includes £8 billion from windfall taxes and £21 billion from borrowing/other sources.

And the shadow chancellor made a similar claim on Radio 4 on Monday, telling listeners that the government is “leaving those excess profits being made by the energy giants on the table”.

She went on to say that “current and future taxpayers are going to have to pay for this, rather than asking those that are making huge profits on the backs of those high prices to make a contribution”.

Hearing and reading these claims, you’d be forgiven for thinking oil and gas companies are not currently subject to a windfall tax. But – and this is the second time in a month we’ve had to FactCheck Labour on this – you’d be wrong.

If we keep on with austerity there won’t be any public services left

Lizzie Dripping

The edit history on the wiki page is priceless. Incredibly subtle and therefore totally missed by people of Clavs calibre. You're all welcome to have a dekko.

en.wikipedia.org/w/index.php?title=Lizzie_Dripping&action=history

jgw1
Any thoughts on this?

Yes - Liz Truss initially refused to expand the windfall tax introduced by Rishi Sunak - she didn't cancel the one we already had.

Why is the CEO of Shell saying energy companies should be taxed Clav? Do you think he hasn’t noticed?

These aren't the droids you're looking for ...

pointythings
the UK should be windfall taxing on the same scale as the EU

As far as I can tell, the EU have only made proposals? The UK's Energy (Oil and Gas) Profits Levy Act 2022 received Royal Assent on 14 July 2022.

@Clavinova I think I have this right.

The Tories were bounced into a small windfall tax having ignored the energy crisis for months.
Some time later they were bounced into a cap on the price of domestic energy having ignored the crisis for months when they were arguing with themselves about how dreadful the government had been for the past 12 years.

Whereas from as early as January, Labour have had a clear plan to support people and tax the excess profits of energy companies.

It is true that under the Tories households are footing the bill for the energy cap, (and not the richest households), it is true that Labour would tax energy companies more (as far as I understand their policies) which the government is refusing to do.

Indeed. Wet dreams over Thatcher 2.0

We don't need any of these WEF puppets, no matter what colour they stand under.

Blossomtoes
Why is the CEO of Shell saying energy companies should be taxed Clav? Do you think he hasn’t noticed?

27 May 2022
Shell has said Rishi Sunak’s windfall tax is a threat to investment in North Sea oil and gas as Britain attempts to ramp up domestic energy supplies.

The chancellor yesterday announced an “energy profits levy” on oil and gas operators that he hopes will raise £5bn to help fund a support package for households.

www.theguardian.com/business/2022/may/27/shell-windfall-tax-north-sea-oil-gas-investment

Bloomberg
The UK expects to raise more than £28 billion ($30.9 billion) in the coming years from a windfall tax on oil and gas firms.
The revenue will go toward offsetting the huge costs of subsidizing energy bills amid a cost-of-living crisis driven by soaring gas and power prices. The forecast was released as part of Chancellor of the Exchequer Kwasi Kwarteng’s mini budget presented in Parliament on Friday and includes the period through the 2026-27 fiscal year.

www.bloomberg.com/news/articles/2022-09-23/windfall-tax-on-uk-oil-and-gas-producers-to-top-28-billion

We should also not forget that France capped energy price rises at 4% whilst the UK government allowed the cap to double.