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BP, Shell shareholders warn against ‘meddling’ windfall tax
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fnlondon.comBumper profits at Shell and BP have reignited calls for a windfall tax on oil giants to combat soaring energy bills, but shareholders say the move would be “short-term meddling” by the government.
“I’m not that wild on governments intervening in markets on an ad hoc basis, particularly in businesses like this when lead times on investments are very long,” one top 20 shareholder in BP and Shell told Financial News. “Anything that discourages long-term planning — and short-term intervention would discourage long-term investment...
Read more on fnlondon.comAbout this in other media
Windfall tax: which cabinet ministers are for and against it? theguardian.com /2 years ago
Forget a gimmicky windfall tax. Energy companies should be forced to slash bills instead theguardian.com /2 years ago
Windfall tax would hit renewables investment, National Grid boss says theguardian.com /2 years ago
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