Gas bills taxed at 75%!

Just in case you were wondering why left wing Labour MP's were calling for a windfall tax on oil and gas companies, consider this:

We now import 40% of our gas, which is why it costs so much, but crucially when British gas draws it off the North sea it pays 75% over in tax to Gordon Brown. This explains two things:

1. Why gas bills are so high.

2. Why
no one can be bothered to bring new capacity on in the North sea. After all it is hardly worth looking if you can't make any money out of it.

In fact this government, egged on by very ignorant left wing MP's and unions, has taxed the North Sea oilfields to the point where no matter what is down there it is hardly worth a look.

So the next time you look at your gas, or indeed electricity bill, and lament the VAT on it, please remember the hidden 75% tax.

The figure of 75% jumped out at me as I was listening to an interview with the MD of British Gas who pointed that out.