This recent statement by the gas company Centrica is tacit confirmation of the often disputed position of the Socialist Party that taxation is the burden of the employing class and not of the workers.
"The report also claims that Centrica provides £4.2bn in "total tax payments" including its own payments to HM Revenue and Customs of £1.1bn, national insurance and PAYE contributions from its staff and tax paid by consumers on their bills."
They could also have included the VAT they collect and pass on to the government in those figures. Centrica does actually pay workers' National Insurance contributions and PAYE income tax directly to the government without, as we've always pointed out, these ever even passing into the hands of the workers. With these particular payments it should be clear to everyone that workers don't pay them even in the literal sense. They do of course pay from their wages some taxes (eg council tax) but not these.
But not too much of a burden British Gas – the biggest energy supplier in the UK – unveiled an 11% increase in profits and its parent group, Centrica, promised a £1.3bn handout to its shareholders just months after pushing through an increase in household bills. Dividends of more than £3.5bn have now been paid out by Centrica over the last five years. Centrica reported operating profits of £2.7bn – up 14% – and announced plans to hand an additional £500m to shareholders this year by buying back, and then cancelling, its own shares. The process should increase the share price.
Campaign groups warned that 160,000 children had been dragged into fuel poverty by the actions of the big six energy suppliers since 2010. Trade union bosses accused energy chiefs of "creaming off" profits.
The campaign group Fuel Poverty Action warned "These profits were made on the back of forcing millions into fuel poverty and from a 'dash for gas' that will send bills even higher as well as contributing to rising food prices through climate change,"
Phil Bentley, a former BP executive, British Gas's managing director, will stand down with a combined pay and pension package worth more than £10m. Bentley, plans to leave British Gas by the end of the year and is apparently hoping to become a chief executive elsewhere. But it was also revealed that the energy boss will be able to retire in four years time with an annual pension of £225,000 after working for the company for little over 12 years.
"The report also claims that Centrica provides £4.2bn in "total tax payments" including its own payments to HM Revenue and Customs of £1.1bn, national insurance and PAYE contributions from its staff and tax paid by consumers on their bills."
They could also have included the VAT they collect and pass on to the government in those figures. Centrica does actually pay workers' National Insurance contributions and PAYE income tax directly to the government without, as we've always pointed out, these ever even passing into the hands of the workers. With these particular payments it should be clear to everyone that workers don't pay them even in the literal sense. They do of course pay from their wages some taxes (eg council tax) but not these.
But not too much of a burden British Gas – the biggest energy supplier in the UK – unveiled an 11% increase in profits and its parent group, Centrica, promised a £1.3bn handout to its shareholders just months after pushing through an increase in household bills. Dividends of more than £3.5bn have now been paid out by Centrica over the last five years. Centrica reported operating profits of £2.7bn – up 14% – and announced plans to hand an additional £500m to shareholders this year by buying back, and then cancelling, its own shares. The process should increase the share price.
Campaign groups warned that 160,000 children had been dragged into fuel poverty by the actions of the big six energy suppliers since 2010. Trade union bosses accused energy chiefs of "creaming off" profits.
The campaign group Fuel Poverty Action warned "These profits were made on the back of forcing millions into fuel poverty and from a 'dash for gas' that will send bills even higher as well as contributing to rising food prices through climate change,"
Phil Bentley, a former BP executive, British Gas's managing director, will stand down with a combined pay and pension package worth more than £10m. Bentley, plans to leave British Gas by the end of the year and is apparently hoping to become a chief executive elsewhere. But it was also revealed that the energy boss will be able to retire in four years time with an annual pension of £225,000 after working for the company for little over 12 years.
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