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Corporate tax is likely to be better than expected, thanks to higher profits, notably in the oil sector, where the drop in production is small compared to the increased oil prices. The oil tax windfall, on an oil production of about 1 billion barrels (and a similar volume of gas), is equal to several billion pounds, a not unsignificant amount.

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Mon Dec 5th, 2005 at 06:28:11 PM EST

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