Sarah Olney: GDP figures are proof that the Government is missing in action

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Sarah Olney: GDP figures are proof that the Government is missing in action

By The Voice | Fri 12th August 2022 - 1:52 pm

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Lib Dem Treasury Spokesperson Sarah Olney has demanded that the Government take action to avoid a recession immediately after the announcement of the fall in GDP

She said:

The warning lights are flashing red but the government is missing in action.

There’s no time to waste, ministers must act now to boost confidence and avoid a recession.

It’s time to reassure families by scrapping the energy price rise, funded through a windfall tax on the record profits of oil and gas giants.

Read more by The Voice .
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4 Comments

Sadhbh 12th Aug '22 - 2:43pm

I believe energy price rices of only 4% are planned in France where the energy companies are nationalised. Maybe there is a lesson to be learned from this?
Jenny Barnes 12th Aug '22 - 3:53pm

Apparently the average domestic energy price rise across the EU is 41%, while in the UK it’s over 200%.
Jeff 12th Aug '22 - 8:04pm

Sadhbh 12th Aug ’22 – 2:43pm
I believe energy price rices of only 4% are planned in France where the energy companies are nationalised. Maybe there is a lesson to be learned from this?

I expect there is. They will probably learn it when they try to raise the money to replace their fleet of clapped-out nuclear power stations.

‘EDF sues French government for £7bn after being forced to sell energy at a loss’ [August 2022]:
https://www.theguardian.com/business/2022/aug/10/edf-sues-french-government-for-7bn-after-forced-to-sell-energy-at-a-loss-macron-price-cap

‘France is heading for massive power supply problems’ [May 2022].
https://blackout-news.de/en/news/france-is-heading-for-massive-power-supply-problems/

In France, the state-owned energy company Electricite de France SA (EDF) has revised its nuclear power target downwards for the third time this year. The power supply in France is thus becoming increasingly critical. The nuclear power plants operated by EDF form the backbone of the European interconnected system. […]

Of a total of 56 nuclear reactors, only 28 are currently still connected to the grid. This means that the capacity of the reactors still in operation has fallen to around 28 gigawatts. This is the lowest value in the history of EDF.
Jenny Barnes 13th Aug '22 - 9:01am

I believe that the reason many of the nuclear power stations in France are powered down is because of low river water levels – water from which is used to cool the back end of the turbines. The low water quantities would mean that any fish would be boiled by the hot water output.