Labour’s energy proposals would do more harm than good
Politicians are misguided to approve the implementation of standardised packaging in the UK
Abolish the budget in its current format
State bureaucrats cannot determine the price of energy
“Ed Miliband is right that energy bills in the UK are far too high, but he’s completely wrong in his prescription. Politicians have continually meddled in the energy market with a host of totally incoherent interventions and taxes which raise bills unnecessarily for all households.
“The British government is responsible for a far higher slice of every gas and electricity bill than the companies themselves take in profit. The energy regulator, OFGEM, has also eliminated some of the most attractive and competitive tariffs in the name of ‘fair competition’. The idea that such a centralised state bureaucracy should now be entrusted to determine what prices count as ‘fair’ is almost laughable. But the sad truth is that the consequences for the British public would be a poorer service, more limited choice and less innovation.”
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Notes to editors:
The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.
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