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The Labour Party is showing off its economic illiteracy again

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Monday 10 January 2022 17:33
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<p>Labour leader Keir Starmer </p>

Labour leader Keir Starmer

I read with a large degree of disbelief Labour’s proposal for a “windfall tax” on energy firms to “help consumers with their bills” (‘Labour calls for North Sea windfall tax to rein in soaring energy bills’, 9 January). This classic “beat the bosses” idea shows once again the party’s total lack of understanding of the realities of the service sector and business practice.

Who do they think will end up paying for that new tax? We will – the consumers. The energy companies will simply pass the tax bill onto the customers, as they always do with any rise in costs. Far from being “helped” by this idea, were it ever to be implemented, the consumer would be even worse off. Labour should really learn something about economics before making these pronouncements.

Ian McNicholas

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