Markets remained flat today on energy price caps announced by the new Prime Minister, Liz Truss today, and the European Central Bank also increasing interest rates by a whopping 0.75% pa and admitting that they had forecast inflation incorrectly.
Energy Price Cap Summary
Changing energy sources - the government has committed to:
Paying for it:
The Prime Minister has done nothing to reduce energy prices, they will still double when compared to last year meaning that they really want inflation and the additional tax revenues from extraordinary profits being made by energy suppliers. As you know, we continually suggest the government and the Bank of England wants inflation to remain higher for a sustained period to devalue £500bn of Covid-19 debt as well as this new £100bn energy support debt before ever having to repay Treasury stock debt back in say 20 or 30 years.