The only credible solution to the energy bills crisis is for the UK Government to block the looming 80 per cent rise.
Millions of people will be plunged into poverty if the price cap is lifted and businesses will go to the wall. So it is encouraging that the UK Government is belatedly considering a freeze – despite being slow to react.
The debate now centres on how to pay for the freeze and two options are available to Prime Minister Liz Truss. The first is to put the bill on the backs of future taxpayers by radically increasing Government borrowing.
This would saddle the next generation with paying today’s bills and would be an irresponsible legacy to pass on. The second option is to make the energy giants that are raking in massive profits from the crisis pay through a windfall tax.
UK gas producers and electricity generators are in line to make excess profits of as much as £170billion over the next two years. It is a political no-brainer to go for a windfall tax but Truss is going to max out the country’s credit card.
She claims a windfall tax would damage investment and be bad for business but her argument is pathetic. Profitable companies are a good thing but not when those profits are made from misery.
Her rejection of a windfall tax after being pushed by Labour leader Keir Starmer has become a major dividing line. After barely 48 hours in office she has put herself on the side of big business at the expense of families.
She should be brave enough to put her dodgy views to the public by calling a general election.
End rent greed
Nicola Sturgeon is right to say there is a moral duty to freeze rents for tenants across Scotland. The Scottish Government has faced predictable criticism in recent days from landlords who claim the policy will limit the supply of properties.
The First Minister had to take action as there is a real cost-of-living crisis. Many private landlords are responsible and will deal with their tenants in a fair way.
But others are simply interested in maintaining a healthy profit margin. They won’t think twice about raising rents way above the rate of already sky-high inflation.
While new social housing has been built in the last 10 years, demand still outstrips supply. That means the number of Scots relying on private rentals has rocketed in the same period.
Many are younger people who cannot afford mortgages. It’s only fair they are offered protections from unscrupulous landlords.
Don't miss the latest news from around Scotland and beyond - sign up to our daily newsletter here.
