Budget 2012 predictions - MHA MacIntyre Hudson believes windfall tax review would win ‘hearts and minds’
MHA MacIntyre Hudson, the accountancy and business advisory firm, believes that a review of the Windfall Taxes on utility companies is unlikely in this coming Budget. The Windfall Tax was introduced in 1997 by the Labour government to balance perceived excess profits of privatised utilities.
Katharine Arthur, Tax Partner, at MHA MacIntyre Hudson comments, “Consumers generally view utilities companies as greedy, and the recent cuts have done nothing to stifle this as they are a drop in the ocean. This move would go a long way in winning hearts and minds as it will hit the companies equally. However, as we’re not quite mid-term, from a political standpoint, I would expect it unlikely that this is changed in any way.”
Katharine Arthur is available for pre- and post-budget comment.
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