Oil companies are making profits bordering on fraud, says the Parti Québécois

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Oil companies are making profits bordering on fraud, says the Parti Québécois

The leader of the Parti Québécois, Paul St-Pierre Plamondon, says there is a problem with competition and the fixing of gas prices.

Oil companies are making profits “ verging on fraud,” argues the Parti Québécois (PQ), which is coming back to the charge with its idea of ​​taxing superprofits.

In an interview on Wednesday, on the eve of the economic update of the CAQ government, the leader of the PQ, Paul St-Pierre Plamondon, pleaded that the situation had worsened in recent months.

For example, retail profit margins on the North Shore went from 14¢ to 27¢ per litre, despite a drop in the price per barrel, he illustrated.

Compared to their average of the last 52 weeks, retail margins were, last Friday, higher by 110% in Sherbrooke, 67% in Shawinigan, 62% in Saint-Hyacinthe and 42% in Quebec.

The PQ leader said an economic statement was an opportunity for opposition parties to offer the most comprehensive solutions to a hurting inflation problem. /p>

“There is a competition and pricing issue. It is high time to take an interest in the causes of the problem and to seek sums where there have been profits bordering on fraud. »

—Paul St-Pierre Plamondon, leader of the PQ

According to him, some countries in the world already tax profits that they consider excessive, or intend to do so: one need only think of the United Kingdom and the United Kingdom. #x27;Germany, he continued.

He further points out that United Nations (UN) Secretary-General Antonio Guterres now encourages to tax the oil companies' superprofits.

If Quebec taxed these excess profits at 25%, it would recover a billion dollars that would allow us to support families in need, in particular, calculates the PQ leader.

But the real solution , according to him, is having competition laws with teeth, whether in groceries, oil or telecommunications.

“We want a Quebec consumer protection office that is intended solely for unfair and anti-competitive practices. »

— Paul St-Pierre Plamondon, leader of the PQ

Finally, the solidarity tax credit should be doubled, according to the PQ.

By giving checks to everyone, we are not sending aid money where there is need, maintains Paul St-Pierre Plamondon. Just printing checks doesn't solve the problem for 2023. There's no sign that groceries are going to be more affordable and no signs that at the pumps it's going to be more livable this winter. so it takes solutions.

On Wednesday, Treasury Board President Sonia LeBel defended the mass mailing of $400 to $600 checks as an anti- inflation.

We decided to target as many people as possible to make sure we don't miss out on people who need it, she said. She hinted that further measures could be announced when the economic update comes on Thursday.

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