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Price rises 2022 ?


Observer II
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Among the threats will be a rise in energy prices as caps are reviewed, no doubt forcing some to choose between heating and eating.   But in seeking to appease the green lobby, HMG has pursued a policy of importing energy whilst cutting our production from fossil fuels, so we can claim to be carbon neutral as the carbon guilt will fall on or suppliers.  So while we depend on windy or sunny days, our coal and oil will stay in the ground,  while we face the financial lottery of importations.  Methinks the great unwashed are going to suffer for the green dream of middle class liberals.   :rolleyes:

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31 minutes ago, ninearches said:

The triple lock has been suspended but there was supposed to be a rebellion among MPs & a debate was scheduled. Heard no more though.

The debate was for Social Security (Up-rating of Benefits) Act 2021 which came into force on the 17th November 2021 and only applies for one year. It removes the use of the level of wages substituting it for Prices, so making it a double lock. It is possible that the government will use a different rule for calculating the increase this year  as result of the rather different text. The usual measure of price inflation would be 3.1% and the wages number would have been 8.3% but has since fallen to 4.9%. Inflation however has risen to 5.1% so whilst 8.3% as a rise was not justified neither is 3.1%. Another hot potato for Boris and sniping fodder for the opposition.

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1 hour ago, ninearches said:

There was supposed to be a debate taking place within the ten days leading up to Christmas  i believe .

I didn't ignore what you said but there did not appear to be evidence in Hansard. See link: https://hansard.parliament.uk/search?startDate=2021-12-02&endDate=2022-01-02&searchTerm=triple lock&partial=False

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Like the pandemic, it seems inflation is now global, so nothing to do with Brexit.   But the acute effects will occur in the energy market, which will injure the poorest disproportionately;  and the main reason imo, is the commitments to "net zero" carbon emissions, when all we are doing is buying in foreign sourced energy, which means the suppliers shoulder the responsibility for high carbon emissions rather than us.  However, such a reliance on imports places us at the whims of those suppliers in terms of costs, so we need self sufficiency in energy, which cannot be achieved by sunshine or wind.  So we clearly need to look at nuclear  and hydro; but in the meantime we need to fall back on our fossil fuels to bridge the gap.  The green dream of saving the planet may be attractive to the middle class liberals, but the costs are clearly going to be borne by the poorest as a proportion of their incomes.  😠

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