It is too expensive for governments to help everyone with their soaring energy bills, the World Bank has warned.
David Malpass told the BBC the same policy was being adopted to help people cope with rising energy bills.It is pushing global debt to record levels and people at the bottom of the income scale are hardest hit, he said.It comes as separate research suggests the UK's own energy support scheme is far too expensive in its current form.
The National Institute of Economic and Social Research said the current scheme could cost some £30bn because it was untargeted.
So, this will be a road to Central bank digital currency worldwide People can celebrate the new currency as a world saver!!
The cost of living crisis isn't affecting the high earners or wealthy people but they complain its only their disposable income isn't the same it means they can't buy the designer goods or eat out as often,the poorest don't have a disposable income it goes on food and energy
Maybe people earning over 50k a year shouldn't receive it that way MP's Premier League footballers Bankers and lots of others don't give something they don't need and the extra money could go to people who actually do need it.
I think it is very kind and thoughtful of the government to pay us with our own tax money.
getting cheaper though, but then when was the last time our MSM bothered to mention the price of wholesale gas?
So while the price of the therm has gone down energy firms increase the price to the energy cap
Why are energy bills rising? politics PoliticsToday PoliticsLive wato
Yep, that’s the plan.
Malpass was chief economist at Bear Stearns who triggered the 2008 recession. He was appointed by Trump and has worked for Reagan and Bush. I wish the BBC could remember what journalism is!
Rather than giving govt money to these profiteers via a 'help' package, cap the prices. It's not rocket science: dontpay
Thats easy then....get kwh back to 16p
Clearly. Which is why more targeted relief is required to help the poorest but such a move makes Tory ideologues balk at the prospect!
When did Eric Cantona and Deirdre Barlow move in together?
£150k a year each for all ex prime ministers is too expensive
Who appointed the ‘World Bank’ and why do we listen to it? Banks are a massive part of the problem! We all seem to cower to them and the ‘money markets’. They work by managing debt, they have got things spectacularly wrong in the past and they don’t actually have any money!
Where do you draw the line🤷🏻♂️ I know of many couples moaning about costs & receiving all kinds of help & benefits yet they’re joint income easily outweighs ours & we receive no additional help … I’m 68 working 50hrs & spouse receives state pension🤷🏻♂️
Don’t need it , this was forecast and prepared for it , only those that pay no attention got caught out 😂
You were told lockdowns was not needed and the harm that this would do? Now your response is let them suffer
Wait until the World Bank find out about the cost of lockdowns and furlough.
All ? Ok you know what’s coming - with the Conservatives it’ll only be available to the rich leaving the rest of us to freeze to death then they’ll be happy !
Force the energy companies to lower the bills then.
World bank didn’t chip in and say that energy is too expensive and prices need to be curtailed or companies should be taxed more to help households. Whole market is a scam and people need to fight back more and more.
Another baseless and fact less . scaremongering story from the left wing 🐂💩Broadcasting Company.
But global racketeering initiatives are eminently affordable for the billions of victims?
Keep warm this winter, burn the 'World Bank'
Just what is the point of these global institutions? IMF,World Bank,EU,NATO,UN.If the World Bank is telling govts not to help their citizens,then I would be fairly confident in declaring they're part of the problem
Not helped by fraudulent claims, they should be ashamed of themselves 😡
Solution: Nationalise supply, run as non-profit. For a country like UK with surplus energy production (if Tories hadn't shut storage) should be a no-brainer.
World Bank is too 'expensive' warns pitchfork wielding mob
The government knows that not everyone in this country needs help with energy bills, but they are doing it anyway. Just like they decide to implemented unnecessary tax cut 45 for the riches. We are living a catastrophe because tory policies. 🤔
But surely all that lovely profit being made by those companies at the top will trickle down to the poorest in society? Or maybe it won't.
‘ALL’ doesn’t need help. There are millions of wealthy households around the world that aren’t in the least worried about paying their energy bills.
If this PMs strategy to dealing with this problem is for us all to tighten our belts a little further and dig our trenches a little deeper, he can just fu** off right now. I want some proper resolutions.... Starving the starved is not an acceptable resolution.
So, let's starve the 12 directors at the top of the energy companies and then the rest of us are Larry. Sorted.👍
We don’t own our own national energy firms, like numerous European neighbours, is the problem. Wholesale gas is lower than before Ukraine was invaded - but energy company’s had that cap raised, so they can profiteer. Disgusting. GeneralElectionN0W
It shouldn’t be for all! It should be income based! Many can afford increases, there’s many wealthy old people. There’s many who can afford EVERYTHING that is free to all. That shouldn’t be the case - childcare, prescriptions etc. INCOME BASED needs to be the way forward & fairer
Retrospective slagging off. So easy if course. Lapped up by the BIASED BROADCASTING CORPORATION
All those that think a company's global profit should (or could) be taxed even more to pay uk fuel bills 😂
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Profit cap it is then
Improve regs, drive greener investments and help reduce costs of domestic and commercial innovative methods of harnessing energy.
'save money by invest in solar panels' - yeah great but what happens when the sun runs out in future ? They will be come worth less
world bank is too expensive Bitcoin will fix it
If that's not a 'capitalism is failing' message. I don't know what is. What's the alternative? Millions of people going bankrupt isn't exactly cheap either.
So force the price to come down instead of letting oil and gas companies to make huge profits. We all live on the same planet, who do we all corporations to dictate the energy resources of that planet. Purely profit over people
I agree it is nonsense that every one get's there bill's paid for them. One of the only policy's of my beloved Conservative goverment i dont agree. If i want to warm up i dont put the radiator on i just set a huge bonfire in my back garden keeps me warm istandwothboris
Global capitalism is working well isn't it.
But still you say nothing about gas price dropping
But the billions we give those fascists in Ukraine is ok though
Freeze the unit £cost of electricity/gas for a set basic number of units per household then after that we pay the market £rate.