Windfall tax to be suspended if energy prices drop!

might work as an incentive to drop the prices in order to lower the tax?

I thought there were laws against blackmail.

More detailed info here gov.uk/government/news/new-oil-and-gas-tax-changes-set-to-protect-energy-security-and-british-jobs

"The Energy Profits Levy will remain in place until March 2028, and the Government will introduce a new Energy Security Investment Mechanism to protect domestic energy supply and help safeguard some of the tens of thousands of jobs reliant on the sector.

This forms part of the Government’s strategy to support households with energy bills whilst providing certainty to investors to secure the long-term future of domestic energy production.

The Energy Profits Levy has raised around £2.8 billion to date, helping the Government pay just under half the typical household energy bill last winter.

Put in place to tax extraordinary profits made by industry following record high prices of oil and gas driven by Putin’s invasion of Ukraine, the levy has raised around £2.8 billion to date and is expected to raise almost £26 billion by March 2028 – helping to fund the measures to help with the cost of living, such as the Energy Price Guarantee." (edited)

It was introduced as a knee jerk reaction to try and salvage some of Tories reputation. It wasn’t thought through and harmed smaller UK businesses more than the giants we all read about. Consequently they’re making people redundant and investing elsewhere because of it. Look like the Tories are on a backtrack to not loose more businesses this way.

news.sky.com/sto…230

They will reduce by a token 1 pence per litre, SIng absolutley loudly about it in the media, keep all the profits and laugh all the way to the bank (sorry shareholders).

And peole will vote tories again for this eyewash.

news.sky.com/sto…866

bbc.co.uk/new…232