The political classes do seem hell-bent on murder don't they? The murder of the UK economy I mean.
Today Labour leader Ed Miliband apparent promised a two-year price freeze on energy prices as well as proposing the total decarbonisation of the UK economy. I wonder if readers can spot the flaw in Miliband's reasoning?
There are some clues here, from Peter Atherton of Liberum Capital, whose job it is to analyse the deepest thoughts of our political leaders and consider the impact on the City:
This is a call to dis-invest. Price controls are a rubicon not to be crossed
Price cap must be illegal. If govt picks up cost I estimate it will cost at least £3bn. Also drives horse through EMR
Question for DECC - is govt imposed price cap a foreseeable law change under CfDs? If so then no one can sign them. EMR dead on delivery!
If anybody thought it was impossible to come up with a worse energy policy than that of the coalition, you now know better.