As war sends oil profits surging, calls grow louder for a windfall tax

As war sends oil profits surging, calls grow louder for a windfall tax

As oil profits are expected to triple amid the ongoing war in Iran, some groups are reviving calls for a windfall tax in Canada. A windfall tax, also known as an excess profits tax, is applied when a certain industry gains higher-than-average profits from a crisis, to such an extent that those extra earnings appear “unreasonable or unfair or immoral,” says Hadrian Mertins-Kirkwood, senior researcher at the Canadian Centre for Policy Alternatives…

Gas companies reap spoils of war

The Wrap with Greg Jericho The middle of April each year is always when the pre-Budget noise gets louder, and the Government begins to frame the narrative. This year the stakes are as high as any budget in recent memory. The United States’ and Israel’s attacks on Iran and the subsequent closing of the Strait The post Gas companies reap spoils of war | Between the Lines appeared first on The Australia Institute.