Chasing windfalls: taxation

Article Abstract:

The Labor Party in Great Britain will introduce its budget for the next fiscal year on Jul 2, 1997, and it includes a provision for a windfall tax on the profits of privatized utilities. The tax was long opposed, and its actual implementation is not yet decided, but is expected to raise at least $5 billion.

Publisher: Economist Newspaper Ltd.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1997
Public Finance Activities, Corporate Profits, Tax Rates, Analysis, Taxation, Economic aspects, Profits, Privatization, Privatization (Business), Tax policy, Excess profits tax

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Incredible

Article Abstract:

The UK seemed to have found an fair way of regulating monopoly utilities, a form of price regulation called RPI-X, but regulator Stephen Littlechild lost credibility when he changed 5-year price controls he had announced only seven months earlier. The ramifications of his breach of trust are analyzed.

Publisher: Economist Newspaper Ltd.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1995
Regulation and Administration of Communications, Electric, Gas, and Other Utilities, Utilities Regulation, Laws, regulations and rules, Industry regulations, Utility regulations, Monopolies, Government regulation of business, Trade regulation

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Subjects list: United Kingdom, Public utilities
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