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...The bank also said it would be hit by new banking levies in Belgium, where it owns Fortis....
...France is exploring ways to cap national electricity prices without falling foul of EU subsidy rules, including a possible windfall levy to deliver President Emmanuel Macron’s pledge to “take back control...
...“There’s a lot of confusion and uncertainty” said Sarah Hay, climate policy manager at the Norwegian aluminium producer Hydro....
...The French bank blamed levies on banks in Belgium, as well as a fall in the interest paid by the European Central Bank to lenders on their reserves, for pushing back its goal of reaching a 12 per cent return...
...The French government has reached a complex deal with state-owned nuclear producer EDF on future power costs which includes a windfall levy if energy prices spike again....
...“The government’s half-baked plan to abolish NICs has descended into complete chaos,” said Lib Dem Treasury spokesperson Sarah Olney, as she accused ministers of trying to throw the matter “into the long...
...Sarah Pritchard, executive director of Markets and International at the FCA said: “We want to see a thriving financial advice market . . . diligent advisers are having to compensate through the levy for...
...However, in the absence of such levies, some companies are doing it themselves: by putting their own price on the emissions generated by their operations....
...The redress is raised through a levy paid by regulated advice companies; those in their first year of authorisation are exempt....
...They argued it was disproportionate and ineffective — particularly as five years after it was enacted more than 40,000 people have yet to pay the levy....
...sarah.oconnor@ft.com...
...Additional reporting by Wenjie Ding in Beijing, Andy Bounds in Brussels and Sarah White in Paris...
...This newsletter is not an attempt to claim that the chaos that has surrounded Italy’s windfall levy is in any way the ECB’s fault....
...Separately, the country’s tax authorities have sought to levy fines totalling more than €1bn on the banks, said a person familiar with the investigation by prosecutors....
...The review is expected to introduce a statutory levy on operators to fund gambling harms research and usher in tighter affordability checks, as part of a number of reforms to update safer gambling and anti-money...
...The decision to scrap the health and social care levy, which was, you know, a moment when — one can argue about the specifics of what was wrong with it using national insurance and suchlike....
...Simon also told me some authors that he’d love to see featured more in fashion are Deborah Levy and Annie Ernaux. So I’ve put some links to their work too....
...“We believe that the government should remain open to reviewing the energy profits levy if prices reduce before 2028.” Shell disclosed a $2.4bn hit from UK and EU levies earlier in January....
...France is bringing in a cap agreed at the European level so any power sold by producers above a price of €180 per megawatt hour reverts to the state, in a form of windfall levy....
...Funds reaped from the levy are intended to bolster resources to help households and small businesses hit by the energy crisis....
...This means that together with a building safety levy, the industry is paying an estimated £5bn to make their buildings safe, the statement said....
...The change was necessary to attract financial advisers whose clients already have money tied up in the older products, and those that want to use products that are not available as ETFs, says CEO Sarah Levy...
...Caforio singled out the levy as a major hurdle to investment, warning it affected the company’s ability to think strategically about UK spending....
...Those with pension pots that exceed the lifetime allowance face an extra 25 per cent levy on top of income tax when they take it as income above that level or a 55 per cent tax charge if they withdraw money...
...French president Emmanuel Macron has backed a levy on energy companies at a European level, saying that the measure would be targeted at groups making big profits and the proceeds given to member states....
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