Keir Starmer has unveiled a plan to freeze energy prices at the current capped rate of £1,971. The plan will cost around £30 billion to implement. Sir Keir says this policy is costed and will bring down the rate of inflation too. All very well, but the taxpayer will still have to pay £29 billion or so to compensate the energy companies for the loss in earnings. Inflation may well go down, but, in April, when the price cap is allowed to rise, we’ll still be looking at 80% rises which will send inflation rocketing again. Further, the plan does absolutely nothing for hundreds of thousands of small businesses who are ready to throw in the towel due to unaffordable bills. Small businesses are not protected by an energy price cap, so, increases of 300% and more are common place. 70p per KWh together with a daily standing charge is the norm at the moment and this is only going to get worse. I’m really getting the feeling that both Labour and Conservatives are quite willing to see the small business sector collapse in the coming months, as I’ve heard very little from either party on this matter.
Schools are planning four, or even three day weeks to deal with energy price rises
Neither Sunak nor Truss have a plan to decrease the unit price of energy