Istanbuller wrote:She campaigned as a free market supporter. People thought she was going to be Thatcher 2.0. After being elected, the first thing she does is putting a price cap at energy bills. She proved to be just another random politician with no principles.
For the benefit of historical accuracy, she did not put a price cap on energy prices unfortunately! A price cap can only work with coordinated European action as all of Europe is interconnected and suppliers will sell abroad if you cap their prices at home.
Instead she subsidised energy to create an artificial "price cap" where the state/taxpayer covers the price beyond the "price cap" but energy companies are still charging as they please.
I would have preferred a true price cap in coordination with the EU as the EU has already decided on it and it would not cost as much money for state coffers as the current scheme. Nevertheless, Britain will still benefit from the EU's energy price cap and in combination with its own national measures, it could potentially increase its energy dividend.
Other than that, noone can complain much because providing a subsidy instead of capping the market is standard global practice today so the policy is within current economic orthodoxy and easy to defend with "everyone else is doing the same".
I welcome Kwarteng's mini-budget and looking forward for more.
Britain has wasted a lot of business confidence due to Brexit and the tax-cutting moves send a strong signal to global investors that Britain is open for business. The signal this country needs more than anything right now.
EN EL ED EM ON
...take your common sense with you, and leave your prejudices behind...