News
Read about the latest developments at Shepherd and Wedderburn - as well as updates on the law. There are also details of our latest deals, and our media centre for journalists.
MPs call for windfall tax on energy profits
The government has been urged to impose a one-off windfall tax on the profits of energy firms so as to help poorer households struggling to cope with rising gas and electricity bills.
Coming soon after Shell, BP and British Gas owner Centrica all reported multi-billion pound profits, a petition signed by more than 80 MPs has called on the government to take action to deal with the growing problem of fuel poverty across the UK.
Furthermore, according to Compass, the consumer pressure group behind the initiative, many more MPs are set to join the calls once they return from their summer recess, with pressure to build on the chancellor even further should suppliers opt to put tariffs up again before the start of winter.
According to the BBC, while the government is looking into the possibility of imposing a windfall tax on energy firms, it is nevertheless wary of taking steps which could deter prospective investors.
Just this week, a study carried out by YouGov for the Observer revealed that 67% of people in the UK would be in favour of such a tax.
Coming soon after Shell, BP and British Gas owner Centrica all reported multi-billion pound profits, a petition signed by more than 80 MPs has called on the government to take action to deal with the growing problem of fuel poverty across the UK.
Furthermore, according to Compass, the consumer pressure group behind the initiative, many more MPs are set to join the calls once they return from their summer recess, with pressure to build on the chancellor even further should suppliers opt to put tariffs up again before the start of winter.
According to the BBC, while the government is looking into the possibility of imposing a windfall tax on energy firms, it is nevertheless wary of taking steps which could deter prospective investors.
Just this week, a study carried out by YouGov for the Observer revealed that 67% of people in the UK would be in favour of such a tax.
26 August 2008.
© 2008 Adfero Ltd. All rights reserved. Unless expressly stated any views are not those of Shepherd and Wedderburn. News supplied by Adfero DirectNews.
Latest industry news
British Gas wins energy award
17 November 2008
More of the UK want nuclear energy
14 November 2008
UK Coal and Peel Energy sign windfarm deal
13 November 2008
Jacky oilfield development gets green light
12 November 2008
Carbon footprint reduction effort is "mediocre"
10 November 2008
