Submitted by David Brockless on Wednesday 8th September 2021
Published on Tuesday 14th September 2021
Current status: Closed
Closed: Monday 14th March 2022
Signatures: 850
Relevant Departments
Tagged with
2020 ~ 2021 ~ 2022 ~ British ~ British people ~ Companies ~ Covid ~ Covid crisis ~ Covid-19 ~ crisis ~ Excess ~ INCREASE ~ level ~ Pandemic ~ People ~ Reported ~ Senior ~ Tax ~ tax burden ~ The British ~ windfall ~ windfall tax ~ Years
Implement a Covid Windfall tax on companies which profited from the Covid Crisis
For large companies with operations in the UK who report profits greater than their 5 year average, whether that is reported to UK authorities or authorities abroad, during the years 2020/2021 and 2021/2022, (the Covid pandemic years) a high windfall tax should be levied upon those excess profits.
Many businesses and employees operating in the UK have suffered great hardship as a result of the Government's policy responses to the Covid pandemic. There are, however, some, mostly large multinational companies and their senior executives, who've massively profited from these responses, e.g. pharmaceutical companies. The Government have now announced an increase in overall taxation on the British people to the highest level ever. A windfall tax would reallocate the tax burden.
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