wire-quin wrote:
How will over taxing large companies encourage large companies to come to the Uk in the future??
Take a look at Ireland and the number of large tech and pharma companies over there.
As a "one off" tax, which will be on excess profits (which they hadn't budgeted for), it should have little effect on future investment.
Alternatively, those companies could of course, share these monies between their directors and shareholders and an "exceptional" dividend.
Ordinarily, I agree, there is no sense in making a "grab" at company profits, as it would change how they go about their business.
However, these are exceptional circumstances and a few of the big boys are making "super" profits as a direct result of the situation in Ukraine and in these circumstances, it's just ridiculous for those companies to have such huge profits and for the rest of the population to suffer.
There's one hell of a storm brewing and when people really cannot afford to heat their homes but, see the "fat cats" getting fatter, there will be some civil unrest.
This isn't a huge problem over the summer but, in the winter months, with the price cap being lifted by around £1000 per household, on top of the recent £900 increase, people are going to be pretty angry.
After all, the average man on the street has done nothing to bring this increase upon themselves and their wages aren't rising at anywhere near current levels of inflation, especially in the public sector.
Mr Sunak is certainly going to be tested.
