Progressive Vision: 'Speculation harms UK reputation'

Friday, 01, Aug 2008 12:00

Shane Frith, director of Progressive Vision, comments on the idea of using a tax windfall on energy companies to support vulnerable members of the public:

"Speculation about windfall taxes harm's Britain's economic reputation, even if they are never imposed.

"Political leaders need to put the interests of the nation ahead of political point scoring and end the debate about windfall taxes today.

"Windfall taxes are arbitrary and retrospective actions, creating great uncertainty. The fact that these taxes are even being contemplated at a high level does the nation great harm.

"Investors, who pay taxes and create jobs, will be discouraged from investing in Britain if they believe that a windfall tax is possible in the future."