13
Sep
2022
Watch
EU response to the increase in energy prices in Europe (debate)
Madam President, the first thing to recognize is that we have a social bomb on the way, with salaries that are being massively depreciated when we adjust them to inflation and with a electricity bill that many citizens will not be able to pay. Intervening in the energy market and windfall profits had been urgent for many months. We're late with it. Despite this, the music that comes to us from what the Commission is going to present tomorrow, I have to say, sounds good to us. If we are really going to force companies to put a limit on their income, to reinvest the excess of that income in consumers to lower their electricity bill, and, if we are finally going to put a tax on extraordinary profits, that is certainly going in the right direction. And also, if you are going to use Article 122 – as it seems you are going to use – to kick-start that tax, that is good news. Now, we're going to want to discuss how that money is spent. That money has to revert to the citizens. And we have to go much further, because there are other sectors that are also having extraordinary, massive benefits, particularly banking, which, with the decisions of the European Central Bank, will have extraordinary profits, which will also have to start discussing. Because at the end of the day it is a question of making a fair distribution of the costs of inflation.