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Sheesh, it's sounding really grim. To have the imminent energy price rises (that have been predictable for 6 months) and now the interest rises. It's not only pensioners that will struggle later this year, but also young couples on minimum wage, single parents, and large families. And then there's thousands of small businesses at risk ... Energy firms refusing to supply small UK businesses over bankruptcy fears
One reason that energy prices are so high that is not often mentioned - apparently all UK-produced energy is sold on the open market at the going (high) rate, instead of being sold for UK consumers at local affordable rates. One expert on the radio said that Europe is going to have to live without Russian energy for the foreseeable future, for years or even a decade.
The always-excellent Martin Lewis was on the Jeremy Vine show (Vanessa Feltz) today to talk about energy bills (at the start, from 6 to 16 mins.)
I just discovered the excellent twitter threads by Richard Murphy (@RichardJMurphy) - He's an Economic justice campaigner. Professor of Accounting Practice, Sheffield University. Chartered accountant. Political economist. Co-founder, the Green New Deal.
Here's his blog, and there's even a free ebook (2021).
https://twitter.com/RichardJMurphy/status/1563161074215444481
https://twitter.com/RichardJMurphy/status/1562840369087164417
Excellent 10 min round-up of the situation with energy bills, from Martin Lewis yesterday >
... and a passionate plea on LBC, where even James O'Brien has to sit back and listen >
https://twitter.com/LBC/status/1563118241483931654
Can't you just buy a new kettle? Problem solved ?
removed link
whoops, sorry @andog ... as a new member, there are a few limitations until you clock up a few more posts.
This would be a radical shake-up, so obviously no chance of being implemented.
Ditch price cap for ‘free basic energy’ plan to help poorest
1) Scrap energy price and replace with free energy for up to about £4600 free energy per household (anything above charged at a higher price than usual to incentivise energy efficiency). This will help lower income households who us the least amount of energy.
2) Expand windfall tax with the proceeds used to pay for a new “cost of living allowance” worth £750 for every household.
3) New “energy element” introduced into UC and legacy benefits worth £1,000 for a single person and £1,650 for a couple.
Cost = £46bn...would be cheaper than Labour’s energy price freeze, while providing better targeted support than that promised by Liz Truss or Rishi Sunak...Ref: twitter - and - Full Report
Not quite true, but not quite the same thing, as it's easy for Amazon to simply charge more (less easy for FB, etc) >
BBC > France tech tax: What's being done to make internet giants pay more?
Amazon Passes France’s Digital Services Tax on to Vendors
I'm not saying that guy is incorrect, but there's too little engagement there to see a complete discussion (I even looked through the quote-tweets).
This is one view why Truss's plans are wrong >
https://twitter.com/RichardJMurphy/status/1567057832284983297
And by the same guy (he's a Sheffield Uni prof) -
(easy read) £100 bn energy companies bail-out is the worst solution to the winter crisis
And I spotted this from a different source ... bottom line, it's complicated! >
https://twitter.com/LionHirth/status/1566652036623515649
hehe ... just cos he's a lefty, doesn't mean he's wrong, and besides, it doesn't do any harm to read/follow outside our bubbles. I've been following him for a few weeks now, and yet to hear a cohesive argument against his proposals.
Germany - I didn't think that at all (this is not the Brexit thread) it was more for the useful graphic, explaining how revenue caps and profit can work.
Fracking - I'm not actually against it - it's massive in the US, especially now the crisis has hit. But the problem is, who wants it in their back yard? Do you not remember this ? >
Blackpool earthquake: Largest ever tremor hits UK’s only fracking site
Never heard of The Critic, but you were asking me for balance ?? ?
The Critic is a monthly British political and cultural magazine.Contributors include David Starkey, Joshua Rozenberg, Peter Hitchens and Toby Young
The magazine was founded in November 2019, with ... the European Research Group of Eurosceptic Tory MPs, as co-editors. It was funded by Jeremy Hosking, a Conservative party donor who had previously donated to Standpoint.
Hehe ... not at all ... you criticised my left-leaning source, but then posted (by all appearances) an equally right-wing source.
Note that I'm not complaining about your source, but about your complaining.
Make sense ?
Anyone know how the Europeans are keeping their prices low?
Is it the same as Truss proposes - to subsidise the bills (energy suppliers) and pay back over 20 years?
