Energy prices: What is a windfall tax and how would it work?

Chancellor Rishi Sunak is expected to announce a windfall tax on energy firms that could raise £7bn.

Companies that get oil and gas out of the ground are getting much more money for it than they were last year, partly because demand has increased as the world emerges from the pandemic and partly because of supply concerns due to Russia's invasion of Ukraine.How countries are dealing with rising pricesBP's underlying profit more than doubled to $6.

They also pay relatively high dividends, which are the other way companies distribute their profits to shareholders.The Prime Minister has previously said a windfall tax would deter investment: "I don't like them. I don't think they are the right way forward. I want those companies to make big, big investments."

Windfall tax is asking the companies who've made obscene profits from the people of Britain to pay a bit more than they have previously But without Scotland's north sea oil resources this wouldn't be possible So 'subsidy junkie' Scotland is bailing the UK out! Who'd have thunk

Sunak says the new energy profits levy is a 'very specific' tax which contains 'generous' investment incentives for energy firms.....so let's see what they energy firms get out of it....the green light ruin the environment and put up prides while doing so!!!

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