The Great ‘Tater of Ely insists that income from investment should pay much higher tax rates than it does. Because. Others mutter about incentives and how perhaps higher taxation of the returns to investment might have an effect on the amounts of investment:
The North Sea’s biggest oil producer expects to cut 350 jobs in Britain two months after it claimed its profits were all but wiped out Rishi Sunak’s windfall tax.
The company, which pumped more than 200,000 barrels of oil and gas a day last year, is reviewing its UK operations after the government slapped the levy on North Sea producers.
Harbour Energy has said some opportunities in Britain will no longer be pursued and it will target growth abroad.
Huhn. Score one for the incentive obsessed among the neoliberals then.