Rishi Sunak says freezing energy price cap would require too much government borrowing

32 comments
  1. Of course if the natural resources within our territory, and the energy companies belonged to the nation…..Wasn’t it the Tories that privatised them and sold off our gas and oil to the likes of EDF? Perhaps we wouldn’t have to borrow so much if they hadn’t done that?

  2. Maybe one day one of them well realise if theres no economy and no workers to exploit then they cant actually be rich and well just dwindle away into nothing.

  3. > Sunak said that the energy companies had not spoken to him directly about their plan. (He seemed to be referring to the Scottish Power proposal for a £100bn rescue plan.) But he said this would involve too much borrowing. He said:

    While both Truss and Sunak are out of touch bellends, I can see his point that £100bn is steep. That’s an additional 10% on energy costs, a year or two after we found £70bn for furlough (plus other Covid spending). Of the two I’d pick Rishi as he is at least admitting this shit is fucking difficult

  4. Guess what Rishi its also going to cost too much when hundreds of thousands of small businesses close down, and millions of jobs are lost.

    When people in or out of work cant put the heating on or eat properly and get sick clogging up the already overwhelmed NHS with very preventable diseases.

    When people cant afford their mortgages, rent, finance etc and default because of the above (this one should hit home Rishi it affects you and your banker mates and their bottom line)

    All because you refuse curb oil and gas companies from rinsing us for all our worth and siphon said worth through a [insert crown dependancy/tax haven] never to be seen by the taxman or local service.

  5. I think people are still really underestimating the task ahead. This is not a one off £30bn bailout. This is going to be a multiyear bailout, possibly beyond £100bn. This is in the middle of what’s going to be an already long and painful recession.

    Once again, we either meet they through borrowing, tax rises or cuts. Resources have to be diverted from somewhere.

    This is why energy prices are actually quite important. Every form of energy we reject (nuclear, wind, solar, hydroelectric, gas imports, oil, coal, fracking, drilling the north sea) for non-economic reasons, the prices go up.

  6. “Some of you may die, but that is a sacrifice I’m willing to make.”

    Well, when the freezing and malnourished start turning up at the HoP en masse and the police side with them because they are in exactly the same boat, I wonder if you won’t come to regret it.

    Slimy tory bastard.

  7. Whilst the money needs to be spend to support people, I dislike the ideal of directly subsidising fossil fuels. Whatever the solution, there needs to be some level of encouragement to people to reduce their energy use this winter.

    I’d much prefer something like a pause on council tax payments, food subsidies, or a direct, multi thousand pound, cash payment to every household. Something that gives them the financial freedom to pay the bill, whilst still encouraging economising on energy.

    If energy use continues as normal, we’re likely to see significant blackouts over the winter.

  8. Well borrow the bloody money then, we can make those worthless little pieces of paper back, but it takes 18 years of blood sweat and tears to raise a human who then enters the workforce, you’d think that the people who really love money, probably enough to sell their wives and children, would be better at comprehending to cost of *time* since we can’t make any bloody more of it

  9. Ah yes, because of course the 30-odd billion spent on the colossal blunder called test & trace, or the 11 billion wasted as he “forgot” to insure UK’s repayments against interest rate rises, or the 10+ billion “written off” as Covid fraud were all money well spent…

    In comparison with those sums, ah yes, energy cap would then cause “too much” borrowing. Oh bless.

  10. In layman terms he says: “You idiots Plebs, government borrowing is only to bailout bankers and Tory donors, now go fuck off and be poor out of my sight”

  11. The link is to a live thread not an article…

    But anyway he previously said he does not want future generations to have to deal with our borrowing. But if he does not do something about this crisis (and the climate crisis) there won’t be any future generations.

  12. I agree something needs to be done for cost of living but we are really burdening younger generations with huge national debt and future tax rises to pay for errors in governance over the last few decades.

    From lax QE, an unaffordable housing market, several recessions, student loans, higher taxes, soaring national debt destroying the currency, a poor brexit deal…

  13. Does Rishi ever talk about anything *other* than stuff he thinks we can’t do?

    Y’know, other than taking money from poor suburban Labour-voting areas and giving it to affluent Tory bases?

  14. Or you could use emergency legislation to legally compel energy companies to pass their profits back to the consumers rather than private equity investment companies as shareholder dividends.

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