Bin Energy Cap
The country is in crisis. Inflation fuelling strikes, the reluctance of government to pay people a fair wage, the lack of action to combat climate change, and I am sure you can name more. Following a classical parody of which our absent holidaying prime minister is so fond, Boris is fiddling while Britain burns. Meanwhile the would-be successors continue to make impossible promises, and confirm they are not fit to hold the highest elected office. The opposition remain invisible, they are correct in painting the government as zombies, yet themselves offer little in the way of solutions.
The key issue is the escalating cost of fuel that impacts on inflation. Energy bills rose by an average of £700 so far, and we will soon face another £1600 plus rise. What should we do? The answer is simple: cancel the planned 70% October rise in the price cap. The government can pay for this by extending the windfall tax on oil and gas company profits, and the boost in VAT revenues that higher inflation is bringing.
Fossil fuel giants have seen their profits soar and the Conservative government's so-called windfall taxes have so many loopholes that they are a national embarrassment failing to raise any real revenue. Thatcher herself believed that windfall taxes were justified when companies had excessive profits without actually doing anything to earn them. Her target were banks who benefitted from rising inflation.
We also need to target support for the vulnerable and low income households. Four things could be done tomorrow: reinstating the £20-a-week Universal Credit uplift; doubling the Warm Homes Discount and extending it to everyone on Universal Credit and Pension Credit; doubling the Winter Fuel Allowance; and investing in home insulation programme, starting with homes in fuel poverty.
All this is not rocket science and reflects a caring, pragmatic and moderate approach to social justice. It will be cheaper than other options in the long term. It will come as no surprise that this is Liberal Democrat policy: providing solutions where others fear to grasp the nettle. Demand Better.