UK industry has struggled for years under the burden of relatively high electricity costs The stream of bad news about energy shows no sign of ending. Last month the regulator Ofgem confirmed that the cap on domestic bills will rise by another 4% in October, despite the temporary removal of VAT from the cost of … Continue reading Expensive energy, not Brexit, explains why Britain is stagnating
Tag: North Sea
Is the “booming net zero economy” really a key driver of growth?
On Monday the Energy and Climate Intelligence Unit published a report by CBI Economics which generated plenty of uncritical headlines about the “booming net zero economy”. In particular, the report claimed that the total economic value (GVA) generated by the sector grew by 10.1% last year, and that this supported the equivalent of 951,000 full-time … Continue reading Is the “booming net zero economy” really a key driver of growth?
Why Sunak is (still) right to reject a windfall tax on energy companies
The Labour Party and LibDems are continuing to push hard for a ‘one-off’ windfall tax on the profits of North Sea oil and gas companies. These businesses are indeed likely to make more money than even they had expected, thanks to the surge in global energy prices. The European Commission has also supported the idea … Continue reading Why Sunak is (still) right to reject a windfall tax on energy companies
Plain-speaking Economics 