Whys and wherefores of the windfall tax

Article Abstract:

The United Kingdom plans to introduce a windfall tax on privatized utilities and use to revenue raised to reduce unemployment among young people. The tax is likely to affect regulated companies, but the definition of excess profits is not clear, and few details have been released on the new tax. The government argues that both consumers and employees were disadvantaged by excess profits. Legal challenges are unlikely to succeed. The companies will be affected in different ways according to whether stockholder returns are examined for a year or for four years following privatization.

Telecommunications, Telephone Communication, Taxation, Telecommunications industry

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Gordon's big day

Article Abstract:

The United Kingdom Jul 1997 Budget is significant of the Labor party which aims to show its economic competence. The chancellor, Gordon Brown, is likely to set out economic data such as growth and consumer spending estimates, before setting out spending plans. The new government is committing to keeping within the previous government's overall spending targets. and targets for individual departments. A program will be introduced to encourage young unemployed people into work. Tax rates are not likely to be changed, but allowances could be affected.

Economic policy

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On whom the apples hit

Article Abstract:

The United Kingdom government has introduced a windfall tax which will affect BG more than expected. British Telecommunications will have topay some 500 million pounds which is less than expected. Railtrack will pay 160 million pounds. Electric and water utilities will pay more or less as forecast, though the Electricity Association has expressed disappointment about the amount. The end of uncertainty about the tax is seen as beneficial by Nigel Hawkins from Yamaichi.

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