Introduce a windfall tax on pharmaceutical companies’ Covid-19 related profits

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Introduce a windfall tax on pharmaceutical companies’ Covid-19 related profits

Petition Details

A small number of very large companies are effectively operating a monopoly on covid-19 vaccines and treatments. A recent estimate suggests Pfizer, BioNTech & Moderna were making combined profits of over $1000/second. The proceeds of a windfall tax could be used to address the cost of living crisis.

Additional Information

Obscene profits are being made from covid-19 vaccines and treatments by a very small number of pharmaceutical companies. Unlike energy companies, patent protections mean there is no "free market" operating, and it's effectively a monopoly. Meanwhile, millions of people across the UK are facing poverty and having to decide whether to spend their money on "heating or eating". It's time to help address this imbalance via a windfall tax on these companies.

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