Exceed Profits – Leichtfried: “Why does the government protect ‘grotesque greed’ and not the people?”

Vienna (OTS/SK) Yesterday evening, UN Secretary-General Antonio Guterres also spoke on the subject of excess profits by energy companies. He has accused oil and gas companies of “grotesque greed” and called on all states to tax excessive profits. The SPÖ has long been in favor of siphoning off all windfall profits from energy companies through an excess profit tax and returning the money to households, thereby promoting the expansion of renewable energy. the deputy SPÖ club chairman Jörg Leichtfried asks: “What is the government waiting for? When will the Turquoise-Green government stop protecting the ‘grotesque greed’ and start helping people?” Due to the massive inflation, an average household will be burdened with 3,000 euros this year, says Leichtfried. ****

Months ago, the EU Commission advised the member states to levy a special tax (windfall profit tax) on the enormous excess profits of the energy companies. According to the SPÖ model, the additional profit (that which exceeds the previous year’s profit plus 10 percent) should be skimmed off in its entirety. 50 percent of the funds are to be used to relieve people, i.e. to finance the energy price cap, 50 percent are to flow into investments in the expansion of renewable energies.

The vast majority of the population agrees that skimming off excess profits is the right thing to do. In a representative survey for the news magazine “profil” in June, 66 percent said that the high returns that energy companies are making as a result of inflation should be siphoned off and used to fight inflation. (close) wf/lp

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