dailyalternative | alternative news - British energy giant pays no tax despite soaring bills

British energy giant pays no tax despite soaring bills

Britain’s leading energy supplier RWE Npower has admitted paying zero corporation tax for three years at a time when British households have been hit hardest by soaring energy bills.

Energy and Climate Change Committee attacked the energy firm in a stormy session at the House of Commons, saying that the company, while making huge profits, has forced millions of ordinary people into fuel poverty through tax avoidance.

Npower has reported profits totaling £766 million in the past three years while paying no tax over that period.

Labour MP Ian Lavery said, “People who pay their taxes unquestioningly are sick and tired” of hugely profitable companies which avoid paying their fair share in tax.

“Hard-pressed people struggling with sky-high energy bills will be absolutely astonished that an energy company which makes hundreds of millions in profits doesn’t appear to be paying its fair share in tax,” Laverly added.

Earlier this month, a study by comparison website uSwitch.com revealed that the number of British households, who owe money to their energy suppliers, increased to more than five million.

According to uSwitch, one in five British people are currently in debt to suppliers as a result of high energy prices.

 

dailyalternative | alternative news – British energy giant pays no tax despite soaring bills

via British energy giant pays no tax despite soaring bills.

Related News

Leave a Reply

COPYRIGHT 2019 © DAILY ALTERNATIVE - ALL RIGHTS RESERVED.

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close