Some numbers6 Sep 2022 14:06
At 31st December 2021 uk plc debt was £2,382bn. 114% of GDP.
Interest payments last month were £20bn and rose massively due to the RPI.
The proposed scheme to cap bills is repayable and costed as £100bn.
According to ONS around 35% of the 10% increase in prices is energy.
Take 3.5% out of debt repayments and they fall by £80bn a year.
This is almost identical to the scheme and rational but forward by Labour but didn't seem to have any numbers.
I must admit I think it makes sense and better for SQZ than any cap on producer prices.
Capping bills takes 3.5% out