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Pokerchips,
" LGEN was deeply involved in the LDI catastrophe, for which as CEO Sir Nigel is culpable.
nonsense ....the problems relating to LDI are with the buyers of them who may have underestimated their exposure to gilts...there is risk with them as with anything and it depends on whether the risks are fully managed by the buyer of the LDI product"
How much responsibility does LGEN have for selling the product? None whatever? The buyers may have understimated thier exposure to gilts, agreed. How much advice should LGEN have given then with respect to that before selling the financial product?
Two years is a long way off regarding windfall taxes. If the current tax regime leads to a significant fall in north sea investment then labour are unlikely to stick to thier current proposals knowing very well it will make things even worse.
The companies they are after are the real giants like BP and Shell though, as thier profits are mostly made overseas and taxed there, I dont see how labour will be able to tax it further. It may well force BP and Shell to move abroad and out of labours reach though.
Labour hot air in my view.
Lets see what Sunak the socialist does with the windfall tax.................
Fiscal event now delayed until just one week before Kwarteng planned his. WTF was the fuss all about?