Jersey Oil&gas Share Price (JOG)

Small point NKOTB - the Labour Manifesto hasn't been issued yet (but I'll be amazed if it differs from their green policy documents previously published).

The exact wording will no doubt be of interest, but Greta Miliband will stick to his nonsensical tax raid.

DU has been highlighting for months that there are no windfall profits - company results have shown no windfall profits - the prices being charged at petrol stations imply no windfall profits - continue to drive investment away from the North Sea and there will be no tax revenue at all, and maybe up to 200,000 unemployed from the oil and related industries - The policy adopted by both parties is crazy and totally irresponsible. - rant over.

They also stated to :

"Close the loopholes in the windfall tax on oil and gas companies.."

Firstly there is no official 'windfall tax' just 'energy profit levy' so not sure if that statement will hold true !!

No details on what these 'loopholes' are or how they will be applied !

aimo & dyor

Labour Manifesto :

"A proper windfall tax on oil and gas companies. It starts by tackling the cost-of-living crisis. That’s why we have fought for a proper windfall tax on the excess profits of oil and gas companies, so we can support families with the cost of living.."

So what exactly is classed as " excess profits" !!!! For me they will leave the EPL as is as the unions will know full well any further degrading of NS earning will mean companies will shut-up shop and move overseas, causing a catastrophic collapse of NS operators and their supply chain too.

Note no mention of additional increase of tax or removal of allowances either just a "proper windfall tax" which by the very nature should no longer apply as there is NO WINDFALL !!!

Also past tense statement "why we have fought" means job is done by forcing Conservative to introduce WFT, otherwise should state 'why we will fight' ....

https://labourlist.org/2024/04/what-labour-manifesto-2024-election-policies-party/

aimo & dyor

Unfortunately, there is no way Labour is going to change it's stated policy in the short term.

Sunak's line of attack on Starmer has been that he has flip flopped on policies so many times that the public can't trust him.

No way he'll ditch the stated figures prior to the election, nor for the first few months when they will (undoubtedly) be in power.