Windfall Tax to Ease Impact of Power Price Surge: OECD

European governments should consider slapping duties on extraordinary revenues of utilities to ease the impact of soaring energy prices on their economies, OECD Secretary General Mathias Cormann says.

• “Given windfall gains in Europe and linkages between gas and electricity, there is capacity to increase the level of tax raised in that sector and redirect revenues into measures to help cushion the impact of higher energy prices”
• A Marshall Plan II for Ukraine should be considered to help in the reconstruction of the country after Russia’s invasion

To contact the reporter on this story:
Alonso Soto in Madrid at asoto54@bloomberg.net

To ...