Sep 14 • 6M

Thursday's Dawn Chorus: EU windfall profit tax

European Union countries plan to raise €140b through windfall taxes on those winning from high gas & electricity prices to pay for winter energy subsidies for households

18
8
Upgrade to listen
The latest daily snapshot of the news, detail, insight and analysis on geo-politics, the global economy, business, markets and the local political economy for citizens and decision-makers of Aotearoa-NZ.
Episode details
8 comments

TLDR: The old rules about not intervening in markets are going out the door in Europe’s ‘war’ economy. The European Union announced details last night of plans to raise €140b through windfall taxes on firms winning from high gas & electricity prices to pay for winter energy subsidies for households.

A Italian cafe owner shows his power bill, protesting the steep rise in energy costs. Photo: Getty Images

Elsewhere, Simon Upton has warned the Government its plans to allow Fonterra more capital flexibility will increase climate emissions. Also, look out below the paywall for scoops of the day elsewhere, chart of the day and climate record of the day. Look out later today for June quarter GDP figures. Economists expect quarterly growth in a range from 0.6% to 1.8% after the March quarter’s 0.2% fall.

Read The Kākā by Bernard Hickey in the new Substack app
Now available for iOS

Listen to this episode with a 7-day free trial

Subscribe to The Kākā by Bernard Hickey to listen to this episode and get 7 days of free access to the full post archives.