Windfall tax alternative

THOSE who keep calling for a windfall tax on the energy companies forget they contribute large amounts of tax and National Insurance payments to the Treasury already.

These firms contribute to pension funds, including those for civil servants on gold-plated pensions.

Pensioners who are already being squeezed rely on good dividends from these firms. This was clear during Covid when many cut or stopped their dividends so they could keep trading without Government handouts, and pensioners were left to just get by.

The term windfall tax is a good headline, and great for politicians and unions to shout about.

From a business point of view, a more appropriate way to help with the cost of living is to reduce the tax element and remove the green levy. This allows the energy firms to make new investments to reduce the UK’s dependence on imported oil and gas without worrying about their profits being eroded by any windfall tax now or in the future.

Windfall tax on energy companies? Then why not on pharmaceutical firms, banks, chemical companies, supermarkets, Amazon, mobile phone companies etc?

PETER RAMSAY, Helensburgh, Dunbartonshire.