In exceptional circumstances, exceptional measures. In short, this is what the head of the UN, Antonio Guterres, is suggesting. His idea? Introduce a tax on super-profits to help cope with the economic crisis and help low-income earners cope with inflation. Explanation.
According to Antonio Guterres, this super profit tax would essentially target oil and gas companies. Why her? Because while individuals struggle to keep warm or refuel, these multinationals are raking in the billions. For the UN chief, it is nothing more or less than a matter of morality.
“It is immoral that oil and gas companies are making record profits from this energy crisis. on the backs of the poorest populations and communities, with huge costs for the climate.”
Antonio Guterres, quoted by the HuffPost
During a press conference devoted to the global impact of the conflict in Ukraine, Antonio Guterres urged to dot the i’s and cross the t’s:
“The truth is that we are seeing these outrageous excess profits from the oil and gas industry at a time when we are all losing money (…) This ridiculous greed punishes the poorest and most vulnerable as it destroys our only common home, the planet.”
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In the first quarter of 2022, thanks to the explosion in oil and gas prices, the hydrocarbon giants would have made nearly $100 billion in profits. And the second quarter was in the same vein. Companies such as BP, ExxonMobile, Chevron, Shell or TotalEnergies again announced record figures. Given this very pragmatic state of affairs, Antonio Guterres therefore invites governments to put the money where it is:
“I call on all governments to tax these excessive profits and use these funds to support the most vulnerable in these difficult times.”
A recommendation aimed at more solidarity, but also more stability, is already noted by the UN Secretary-General all over the world “Hunters of a wave of economic, social and political uprisings that no country could spare.”
For now, in France, the idea of a tax on super profits is supported by the left but rejected by the majority and the LR right. Will this position on the highest peak reverse the balance of power?