So what to do about gas and electricity bills? One answer comes from a previous national debate about VAT on fuel, writes Sean O’Grady
that will take effect in the spring? The short answer is that it can’t, to any substantial degree, because it cannot afford to subsidise the domestic and industrial price of energy, which is rising at up to 50 per cent a year at current rates. The implications for the public finances are too gruesome to contemplate.
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