00:00Economy and finance ministers from Italy, Germany, Spain, Portugal and Austria are asking the EU for a tax on energy
00:09surplus profits to curb price increases,
00:12using the extra profits that companies are accumulating thanks to rising fuel prices.
00:18The five ministers who wrote to EU Climate Commissioner Wubke Hoekstra pointed out that actions taken at national level on
00:27excise duty must be accompanied by a joint effort.
00:31They propose reviving an EU-style solidarity contribution that raised about 28 billion euros by tax on excess fossil fuel
00:41profits after the Ukraine war price surge.
00:44Hans Stegman, chief economist at Triodos Bank, said windfall taxes are a no-brainer when a crisis generates large windfall
00:54profits for fossil fuel producers.
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