Oil: towards a tax on superprofits?


Faced with soaring energy costs, the government was considering a tax on superprofits, targeting multinationals in the sector. However, this morning, the government spokesman backtracked.

“Bruno Le Maire spoke again on this subject on Sunday. Taxing the superprofits is not an option chosen by the executive”, reacted Gabriel Attal on Europe 1, after the information of this approach was advanced yesterday in the columns of Figaro.

He emphasized a collective strategy to bring down the price of fuel, which, with the Russian-Ukrainian conflict and current speculation, has risen to record levels in France.

“What we want is for everyone to participate in the effort. As soon as a company reaps profits, it must participate in the collective effort, including the oil groups. You will note that Total announced that it would lower the price of fuel for the French,” explained the government spokesman.

Gabriel Attal also said he wanted to “maintain the attractiveness that we have found for our country”. Reassessing the amount of charges on the energy giants could pose a risk of seeing them relocate to other countries.

“We have been consistent since 2017 in not having raised taxes. This is why France has once again become the most attractive country in Europe for foreign investment,” concluded the government spokesperson.





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