Why Labour’s silly energy policy is smart politics
The limits of technocracy
Labour’s energy policy is a technocrat’s worst nightmare. Sir Keir Starmer’s party this week pledged to cap soaring annual average energy bills at £1,971 ($2,380) for the typical household, with the state paying the rest. At £29bn, or 1.3% of gdp, this promise is very expensive. Since energy prices are not likely to come down any time soon, the cost could double if the cap is extended beyond 2023. The policy is also badly targeted. Around £6bn will be spent on the top fifth of earners, who find the prospect of a £4,000 energy bill annoying but not impossible. It ignores businesses, which face astronomical bills.
This article appeared in the Britain section of the print edition under the headline “The limits of technocracy”
Britain August 20th 2022
- Parsing the policies of Liz Truss and Rishi Sunak
- In praise of financial professionals who turn into sleuths
- A proposed change in the law takes aim at unregistered schools in Britain
- London’s cemeteries are selling second-hand graves. They need to
- Are Catholics now the majority in Northern Ireland?
- 50 years on from the arrival of the Ugandan Asians
- Why Labour’s silly energy policy is smart politics
From the August 20th 2022 edition
Discover stories from this section and more in the list of contents
Explore the editionMore from Britain
Britain’s brokers are diversifying and becoming less British
London’s depleted stockmarket is forcing them to change
What a buzzy startup reveals about Britain’s biotech sector
Lots of clever scientists, not enough business nous
Britain’s government lacks a clear Europe policy
It should be more ambitious over getting closer to the EU
The Rachel Reeves theory of growth
The chancellor says it’s her number-one priority. We ask her what that means for Britain