Energy: DGB boss calls for stronger profit taxation of oil companies

DGB boss calls for stronger profit taxation of oil companies

DGB federal chairman Reiner Hoffmann describes the crisis profits of the oil companies as “indecent”. Photo: Michael Matthey/dpa

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Oil companies should not be able to enrich themselves from the crisis, according to Germany’s top trade unionist, Reiner Hoffmann. He calls for a higher profit tax for the oil multinationals – and warns of the consequences of rising inflation.

DGB boss Reiner Hoffmann has accused mineral oil companies of enrichment in the crisis given the high petrol prices and has called for stronger taxation of profits.

“Here, corporations are making enormous profits from the crisis. That’s indecent,” said Germany’s top trade unionist of the “Augsburger Allgemeine”. “The states have to skim off such profits, so that oil multinationals in particular cannot continue to enrich themselves from the crisis.” Here Germany has to get on the profit taxes: “The extra crisis profits of the companies have to be taxed extra to counteract such a rip-off.”

Hoffmann warned of the social consequences of rising inflation: “In Germany, too, there is a risk that skyrocketing prices will drive people who can no longer make ends meet out onto the streets. This is especially true if inflation is not fully compensated for in the collective bargaining rounds.”


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