EU proposes windfall tax on energy sector
Windfall profits generated by major energy companies since prices began surging after Russia invaded Ukraine are being targeted by the European Commission which would use the money to subsidize consumers’ and industries’ natural gas and electricity bills this winter. “Companies are making revenues they never accounted for, they never even dreamt of,” EC Commission President Ursula von der Leyden said today, hoping to generate €140 billion. “It is wrong to receive extraordinary record profits benefiting from war and on the back of consumers.” [node:read-more:link]