Chasing windfalls: taxation

Article Abstract:

The Labor Party in Great Britain will introduce its budget for the next fiscal year on Jul 2, 1997, and it includes a provision for a windfall tax on the profits of privatized utilities. The tax was long opposed, and its actual implementation is not yet decided, but is expected to raise at least $5 billion.

Public Finance Activities, Corporate Profits, Tax Rates, Analysis, Taxation, Economic aspects, Profits, Privatization, Privatization (Business), Tax policy, Excess profits tax

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Incredible

Article Abstract:

The UK seemed to have found an fair way of regulating monopoly utilities, a form of price regulation called RPI-X, but regulator Stephen Littlechild lost credibility when he changed 5-year price controls he had announced only seven months earlier. The ramifications of his breach of trust are analyzed.

Regulation and Administration of Communications, Electric, Gas, and Other Utilities, Utilities Regulation, Laws, regulations and rules, Industry regulations, Utility regulations, Monopolies, Government regulation of business, Trade regulation

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