Cuprajake truss used to work for shell? not sure if true?
That much is true, though it was a fair amount of time ago (her first post-Uni job from 1996 to 2000, qualifiying as a Management Accountant in the meantime - hardly a power broker, but people have careers). As is true that the wife of an ex-BP exec donated £100k to support her leadership campaign. https://www.thetimes.co.uk/article/tory-donors-helped-bankroll-new-pm-drfz0qg96
dfk41 Total nonsense matey.
It’s the Treasury’s own estimate, and I would not exactly call Bloomberg a “Labour-friendly” source
https://www.bloomberg.com/news/articles/2022-08-30/uk-predicts-up-to-170-billion-excess-profits-for-energy-firms
The firms are based in the UK, and are expected to report those profits in the UK. The so-called analysis by GBN (hardly an unbiased outlet) is flawed as it mixes expected pre-tax profits with after tax profits to reach the sensationalistic claims of “overestimate of 1214%” - no, mate, you cannot compare apples (windfall pre-tax profits in 2023 and 2024) with pears (his incorrect “estimate” of after-tax 2022 profits); to start with, the tax rate of 65% doesn’t apply to all profits at the moment (only those coming from UK and continental shelf oil/gas). Secondly, 2021 (and 2022) numbers, which is where he gets the 40 billion from, are not particularly relevant to 2023-24 estimates, which is where the TREASURY’s estimate of £170 billion comes from.
The Twitter screenshot from Joe Armitage (“Lead UK Political Analyst at GC”) is not sourced and does not come from someone I regard as authoritative - but in any case does not contain relevant numbers; it’s a time series of revenues from UK and continental shelf exploration from 2009 to 2021, not clear referring to which firm(s), and an estimate of cost and other income based on industry standards, not audited figures.
I cannot find the Treasury’s estimates anywhere, despite Armitage’s claim that “a semi-competent browser” could (i.e. clearly not him, since he’s only posting something that is vaguely related), which is not surprising, since Bloomberg claim these are not published and have been leaked to them, so I wonder what that spreadsheet is, or how relevant to the rest of Tommy Slick’s “analysis” (very much in quotes). It would take me about 30 seconds to produce a similar spreadsheet showing whatever number we would like… and it would be a bit better than what he is using to ‘support’ his claims.
