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https://www.spiked-online.com/2025/01/13/labours-technocrats-are-plunging-britain-into-disaster/
Two signs of impending disaster reared into view last week. On Tuesday, the cost of UK government borrowing passed the peak it reached in the autumn of 2022, in the wake of Liz Truss’s disastrous mini-budget. Then, on Wednesday evening, the British energy system came the closest it has been to blackouts in decades.
Worse still, this dire news is merely the tip of the iceberg when it comes to energy and the economy. Britain now faces the highest industrial energy prices in the developed world, with UK businesses paying four times as much as American businesses. The UK economy, as well as facing bond-market turbulence, has stagnated, with no growth recorded in the last quarter. The heightened cost of borrowing means a fresh round of austerity measures could be on the way, involving hikes to already eye-watering tax levels or spending cuts to already strained public services.
Two signs of impending disaster reared into view last week. On Tuesday, the cost of UK government borrowing passed the peak it reached in the autumn of 2022, in the wake of Liz Truss’s disastrous mini-budget. Then, on Wednesday evening, the British energy system came the closest it has been to blackouts in decades.
Worse still, this dire news is merely the tip of the iceberg when it comes to energy and the economy. Britain now faces the highest industrial energy prices in the developed world, with UK businesses paying four times as much as American businesses. The UK economy, as well as facing bond-market turbulence, has stagnated, with no growth recorded in the last quarter. The heightened cost of borrowing means a fresh round of austerity measures could be on the way, involving hikes to already eye-watering tax levels or spending cuts to already strained public services.