To: Chancellor of the Exchequer
We need a crisis-profit Windfall Tax
Companies making profits from additional business on the back of Social Distancing regulations should surrender those profits as tax to help offset the cost to the country of supporting the companies whose business is threatened.
Why is this important?
While some companies are making huge losses due to COVID-19, some others, including the Supermarkets and Amazon, stand to make large additional profits on the back of social distancing regulations.
Just as it is fair and important that companies badly affected by the regulations, including High Steet shops and restaurants, are supported by the Treasury, it is also fair and important that no company should PROFIT from the crisis.
Therefore, any additional profits should be recycled as tax to offset the cost of supporting the loss making businesses.
(Photo by Alexander Mils on Unsplash)
