Shell's record profits
Discussion
I saw on the News tonight that Shell made record profits £13B (or thereabouts). Immediately, a bunch people are demanding that Shell pay some sort of windfall Tax. What a load of cobblers, to my mind, because:
1) It's actually 5% O/P - which is not very good at all. I'd be unhappy with those margins in my business;
2) If such a levy was imposed, Shell could simply relocate to a less interfering country - taking ALL tax contributions with them;
3) If large companies are issued with such levies during times of high profits, then presumably they'd be within their rights to have Government support during the 'tough' times. Of course, that wouldn never happen;
I think the Government should simply let market forces do their stuff and butt out of what they don't understand.
1) It's actually 5% O/P - which is not very good at all. I'd be unhappy with those margins in my business;
2) If such a levy was imposed, Shell could simply relocate to a less interfering country - taking ALL tax contributions with them;
3) If large companies are issued with such levies during times of high profits, then presumably they'd be within their rights to have Government support during the 'tough' times. Of course, that wouldn never happen;
I think the Government should simply let market forces do their stuff and butt out of what they don't understand.
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