Best of BusinessDesk: Taxing super profits – how much is too much?

When the rain falls, some generators benefit. Are they ripping off the public? (Image: Mercury)

Wed, 04 Jan 2023

The major electricity companies have said calls for them to face a tax on “super profits” are misguided, and reducing their earnings would mean they couldn't build much-needed new generation. The Green party has floated the idea of a new windfall tax on excess profits. Citing international examples of levies being placed on companies making large profits due to the global energy crisis, MP Julie Anne Genter said the tax in NZ should apply to specific sectors: banks, fuel companies, supermarkets, building products suppl...

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