No other way to describe it really.
The heads of the biggest gas and electricity companies are being ordered by the Government to hand over part of their multi-billion pound profits - or face a new windfall tax.
These soaring profits are due more to a quirk of the accounting system than anything else. Explained here.
There will be a time when raw materials prices start to fall: and then profits will tumble. The government going to give the money back at that point?
2 responses so far ↓
1 dearieme // Mar 2, 2008 at 10:09 am
Not “explained here” for me because I can’t read his minuscule. What a twit!
2 Kay Tie // Mar 2, 2008 at 2:23 pm
Robert Peston at the beeb also explains it:
http://www.bbc.co.uk/blogs/thereporters/robertpeston/
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