Huhne will say: \”If the oil price doubled, as from $80 last year to $160 this year, it could lead to a cumulative loss of GDP of around £45bn over two years. This is not just far-off speculation: it is a threat here and now.\”
And of course your own plans to douple, triple*, the cost of electricity will have exactly the same effet.
Making energy more expensive will have costs for the wider economy, whether it\’s via a general rise in global prices or through your tariffs, taxes and quotas.
*Exaggeration for effect.