EU Leaders Poised to Support Taxing Windfall Energy Profits
- European heads of government to discuss energy March 24-25
- Member states to further study emergency tools to curb prices
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European Union leaders will likely give the political green light to a proposal by the bloc’s executive arm to consider a temporary tax on exceptional profits of some energy companies linked to surging gas and power prices.
The EU heads of government are due to debate during a two-day summit starting Thursday how to provide further relief to the most vulnerable consumers and to support the region’s companies amid an unprecedented energy crisis, aggravated by Russia’s invasion of Ukraine. They will discuss a set of solutions outlined by the European Commission to cushion the impact of the soaring prices, potentially endorsing the use of a new state aid crisis framework, according to a draft political statement seen by Bloomberg News.