Sir: Your Business Comment column is wrong to report that Labour has done a "U-turn" on a windfall profits tax (16 May.) My proposals for more fairness in the distribution of profits in privatised monopoly industries are not an alternative to a windfall tax. Gordon Brown and I are clear that such an option must be retained in addition to my proposals for longer- term reform.
MP for Copeland (Lab)
House of Commons
The writer is the Shadow Secretary of State for Trade and Industry.