Ignorant cockwafflery from the Miliboy

A two-year freeze on energy bills would save the taxpayer at least £100million, government figures reveal.

Labour leader Ed Miliband said schools, hospitals and Whitehall departments would benefit now if the coalition imposed his plan to block gas and electricity rises.

Those savings will obviously come out of profits….which are taxed at what rate?

8 comments on “Ignorant cockwafflery from the Miliboy

  1. Man who introduced the Climate Change Act at a cost of 18 bn a year wants to save us money.

    Still, it was only a few years ago his equally slimy Marxist brother wanted to force us all to carry carbon credit cards so the government could micromanage every aspect of our lives, so small blessings?

  2. I suspect that the VAT forgone on lower household bills may be more than any savings made in Government spending on energy.

  3. Suspect that schools and hospitals may well be on fixed contracts already, and MiliCent just sawed off the Occam brach he is sitting on.

  4. Strange thing about Miliband and these ‘profiteering’ energy companies: ask him and he insist that green leviesn strike prices etc are, absolutely not, being passed on to the consumer.
    Strange behaviour for profiteers don’t you think?

  5. There are folk who warn that a vote for UKIP at the general election risks letting in Ed Miliband.

    But what could be more fun?

    Look at nice, normal, Mr Hollande across the water: he’s decisive and thrusting compared with Ed and he’s leading his party into oblivion and his country downhill.

    But France will recover and be quite good again in a few years time. Mili dithering in Number 10 has to be good for a prolonged sepulchral laugh.

  6. No the savings won’t come out of taxable profits because there won’t be any. British Gas was making a loss on its residential supply business before it put up its prices. They will come out of the pockets of the shareholders and the banks lending the companies money. A price freeze during a period of increasing green subsidies will bankrupt the utility companies unless there is a significant *fall* in the price of gas which clearly won’t happen in 2015 because fracking can’t produce much by then so Centrica (British Gas) has just signed a big contract to import LNG from Qatar.
    We have seen what happens when prices don’t cover costs: to quote the Grauniad itself (from 2003) “A 40% drop in wholesale electricity prices in the past five years has forced several power stations into receivership, with the banks now controlling 25-40% of generating capacity in England and Wales.” (http://www.theguardian.com/business/2003/aug/15/4).

  7. “Mili dithering in Number 10 has to be good for a prolonged sepulchral laugh.”

    Not with 5 year fixed-term Parliaments.

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