Well, yes, and we were told this too

Now, in an authoritative and excoriating report commissioned by the government, Dieter Helm, professor of energy policy at Oxford University, has torn away the fig leaves covering the government’s nakedness. Policy interventions, he tells us, are so numerous and badly designed that they have resulted in costs well in excess of what is needed to meet emissions targets. These subsidies will cost a hair-raising £100 billion by 2030. “Much more decarbonisation could have been achieved for less,” Professor Helm drily observes.

Nick Stern actually told us. Change the damn price, once and once only, then leave it alone. Don’t try to plan the thing in detail.

Because, as Professor Helm does not hesitate to tell us: “Government has got into the business of ‘picking winners’. Unfortunately, losers are good at picking governments, and inevitably — as in most such picking-winners strategies — the results end up being vulnerable to lobbying, to the general detriment of household and industrial customers.”

That is a nice formulation which I’ll have to steal. Losers picking governments…..

9 thoughts on “Well, yes, and we were told this too”

  1. It implies however that it is possible to choose a government capable of “picking winners”, which is not possible, unless the government is also able to control the game and decide who wins and loses, i.e. break the oppposition’s legs.

  2. It can’t go on, can it? At some point the cost will surely cause the whole edifice to come tumbling down. The real question is who will get the blame when we do the postmortem. Assuming we’ve got enough electricity to have a functioning society.

  3. That Murphy blog also contains this gem:

    “capital gains taxes can be avoided by simply holding on to assets”

  4. Since the tory cnuts have adopted liebour’s energy policies wholesale, they can’t even use that to bash the left and show that the politicians incompetence will make labour’s whole program a disaster were they in charge. So we’re fvcked.

    Pardon my French.

    Losers picking the government is indeed a great quotation.

  5. Policy interventions, he tells us, are so numerous and badly designed that they have resulted in costs well in excess of what is needed

    This describes all government intervention, anywhere, ever.

  6. “Don’t try to plan the thing in detail.”

    With all the big decisions taken in Brussels planning things in detail is all Westminster has left in order to look busy.

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