Kwasi Kwarteng - tipped to be the new chancellor - has already indicated the government is prepared to borrow to support the economy.
Nevertheless, the estimated £100bn is a sizeable sum to borrow at the same time as cutting taxes and boosting spending on defence and it could end up costing more than that, given the fluctuating price of wholesale gas. "There has to be a risk that energy prices stay high for a long time, perhaps even up to three or four years," he said. "Then this starts being baked into public spending long-term."
Private companies making a fortune out our misery
Trust Newsnight not to tweet about the £100billion+ bribe being given to the electorate by this EnergyPrice Freeze. Are you scared to upset this Conservative government
The Conservatives are in utter denial about all of this. They’ve done nothing all summer but holiday and/or naval-gaze. Meanwhile the country and the economy are facing struggles even greater than the financial crash, austerity and covid. Unbelievably negligent. We need them out
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Source: ShropshireStar - 🏆 98. / 51 Read more »