Faced with inflation, London draws a tax on the profits of the energy giants

by time news

“It was time, Rishi [Sunak]”sighs the Daily Mirror. After several weeks of procrastination, the British Minister of Finance unveiled on Thursday May 26 a new battery of measures intended to combat the effects of inflation, the rate of which stood at 9% over one year in the month of April amid rising energy prices and war in Ukraine. “In a dramatic reversal, after the government repeatedly ruled out this option, it notably announced the creation of an exceptional tax of 25% on the profits of the gas and oil giants”relates the tabloid classified on the left.

This single levy should make it possible to raise 5 billion pounds, or a third of the envelope of 15 billion unveiled by the Chancellor of the Exchequer before Parliament. According to Sunak, almost all of the 8 million poorest households will receive £1,200 this year through a direct allocation of £650, an energy check of £400 – which

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