Karl Williams, senior researcher at the Centre for Policy Studies, believes future government support for households struggling with rising energy bills should focus on supporting those most in need, not nationalising energy firms.
Responding to comments from former Prime Minister Gordon Brown, who suggested a “watertight windfall tax” on energy companies and the potential for nationalisation of firms who don’t bring bills down, Williams told the Sunday Times “I think finding a way to properly target handouts to the most vulnerable households would be far better than nationalising energy firms. For one thing … look at how long it took to divest the stakes we held in some of the banks after the crisis.”
Following the pandemic, he said, “there is very much an attitude that in situations like this, the government should step in. But if energy prices stay elevated, can we sustain that expenditure for several years?”
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Date Added: Sunday 14th August 2022