Thursday, 28 July 2022

What in God's name is going to happen this winter with eyewatering energy prices?

Energy price cap will rise to £3,420, then £3,850 in January (2023)

I wonder what the hell will happen come October.  I think it's likely there will be  mass non-payment of energy bills. Not merely because of the effectiveness of any concerted action to withhold payment, but simply because many people simply won't have enough money. So by necessity they won't pay.  People have to be able to feed themselves.  It wouldn't surprise me if they were riots if the Government don't take sufficient action.

I'm hearing very little indeed from the Government.  We (the UK) are going to get Liz Truss as our PM.  Her solution is to cut taxes.  But if you have a sum of money to help people, then it's a colossally stupid idea to give the lion's share of that cash to wealthier people, since these are the very people that don't require help to make ends meet.  And, of course, many of those on Universal Credit and other benefits, and many pensioners, don't pay income tax.  And come January energy prices alone will be close to £3000 extra compared to 18 months previous to that.  Something somewhat more than tax cuts is required.

I first talked about energy price increases and the calamitous consequences almost a year ago. And this in March.

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