Friday 26 August 2022

If the cap fits

The UK is about to enter a period of uncertainty.

Of that we can be certain about.

Today, OFGEm announced the energy "cap" is to be raised to £3549 a year. Up from £1200 just in March.

Pain and simple, this is unaffordable for millions of familes and they can't pay. Millions more say they're not going to pay.

If the bill for domestic users is bad enough, commercial and industrial users face uncapped rises, which is putting many in retail and entertainmanet sectors under real threat. Even if existing customer and income levels were to go on.

But everyone will be spending less.

Much less on things like entertainment, eating out, going to the pub.

Meanwhile, the Government is missing in inaction.

There is ten days of the leadershop contest remaining, and those in post have gone on holiday.

No Ministers were available to do the usual round of media this morning before the announcement on the cap increase. And all we hear now is that "help is on its way". Theough outgoing PM, Johnson, said on another of his frequent to Ukraine that they are dodging bombs and missles, so Brits paying higher bills is something we should be thankful for.

Something only an entitled millionaire could even think was the right thing to say.

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