UK 17:14 Friday, 23 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
In this pre budget podcast I look at likely tax breaks for the North Sea and who to short after the Chancellor pisses taxpayer cash away on that, I look at the budget in general and why Osborne is a failure and then I discuss smoking and taxes on smokers which are wrong at all levels - why not a todger tax on gay bathhouses instead? I warn you that this podcast uses some colourful language. Please if you listen on itunes give it a 5* rating in response.
This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.
Comments
Steve Brown
Tom,
Your inner eco-loon is getting the better of you again. Reducing a punitive tax isn’t subsidising the oil business. New projects pay 50% tax vs 20% for the rest of business.
No matter your main point is spot on. EnQuest, Premier et al al have a shed load of tax losses (which they sometimes paid good cash to get) and are completely unaffected by a reduction in CT and SCT.
For the likes of Xcite, their asset is probably worth less than their tax losses, so if CT & SCT are reduced you can argue that is bad for their value. Not the calculated NPV – but the market value of the company which is what people might pay for undeveloped barrels plus what someone might pay for their tax losses (c. £250m).
Steve
Drunken Sailor
How long will it be before the BBMs start encouraging people to give you 1 star and a shit review on ITunes just like they did with the restaurant.
Mad as hell.
When you go to hospital with a smoking induced cancer it is nice to know that some of the care you receive has been paid for from the tobacco tax you have paid. It is all very well saying the NHS is free but some bugger has to pay for it! If you drive like a looney you pay higher insurance. Captain sensible like me who leads a healthy lifestyle is supporting and paying for your indulgences. Ps. Please sort out your copy, I’ll take you more seriously without all the trypos.
Tom Winnifrith
Mad As Hell
sadly – for you – your “facts” are er all wrong as I explain here. Irrespective of typos, your comments might be taken more seriously if you were not spouting such 100% bollocks
http://tomwinnifrith.com/articles/8164/smokers-cost-the-nhs-money-so-need-to-be-taxed-even-more-wrong-lies
T
Striebs
Tom ,
This Bearcast is not up to your usual standard .
You have proffered measures which neglect to solve the problems as solutions .
Leaving the problems unsolved is one thing but it’s wrong to pretend they have gone away .
1) You say in this Bearcast that Govt should not be bashing poor Britons but that is exactly what your dogmatic ideological policy of “open immigration” does .
Less able Briton’s rely on a limited pool of jobs such as in hotels and catering and by allowing overqualified workers from overseas to take them you are consigning those Briton’s to the dole . Yes you are .
2) Once your open immigration policy has consigned Briton’s to the dole , what are they and their families going to live on now that you say they need 5 years contributions before they get state assistance .
You might have grown up in a middle class family which would have been able to support you through hard times but many working class families don’t have this luxury .
You seem unable to escape the middle class attitudes you despise so much .
Time to get off the fence and make your mind up Tom which side you are on .