News for hackers. Stuff that matters.
Re:As Britain awaits a new prime minister, its cost-of-livin... by sofixa on Saturday September 03, 2022 @09:18AM (#32701623)
> Come on France, 'do yer thang' (riots), we'll follow suit.

Somewhat unlikely for now. The government is shielding the population from the worst, as they should, by capping electricity prices and with grants/loans to those worst impacted. The average Brit is being hit much worse than the average French.

Re:As Britain awaits a new prime minister, its cost-of-livin... by cm2187 on Saturday September 03, 2022 @09:28AM (#32701722)
You are not shielding the country. By printing money to pay for high energy cost, you maintain demand high when there is scarcity (instead of letting the demand adjust, people using heating as little as they can, companies finding substitute for gas, etc), that's a recipe for making the problem worse.
Re:As Britain awaits a new prime minister, its cost-of-livin... by Jochim on Saturday September 03, 2022 @09:56AM (#32701908)
The free market excuses work for luxury goods but they don't work for necessities. Prices have already reached the point where a large percentage of the population will not be able to afford any form of heating whatsoever over the winter. As a country we already know that a non-insignificant number of people develop serious illness or die because of a lack of heating.

Making the choice to take no action further compounds the issue as you deepen the coming recession and create more people who cannot pay to heat their homes or keep the economy going.

The answer to a crisis like this is price caps, investment in alternatives, taxes on profits, and if necessary targeted restrictions on energy use.

There is absolutely nothing wrong with covering a situation like this with debt in order to keep people and the economy alive.

Re:As Britain awaits a new prime minister, its cost-of-livin... by cm2187 on Saturday September 03, 2022 @10:13AM (#32702033)
They will afford heating, only they will heat just the room they need at the temperature they need rather than heating to comfort. And keep in mind, if demand goes down, prices go down.
Re:As Britain awaits a new prime minister, its cost-of-livin... by sofixa on Saturday September 03, 2022 @10:50AM (#32702381)
> They will afford heating, only they will heat just the room they need at the temperature they need rather than heating to comfort

How do you know this? Did you do the math? And you know it's not just heating, right, it's electricity too. They'll eat only raw food to not waste energy on ovens and cooktops?

> And keep in mind, if demand goes down, prices go down.

Not with external pressure (war) and near total lack of supply no it doesn't.

Re:As Britain awaits a new prime minister, its cost-of-livin... by lostlogin on Saturday September 03, 2022 @10:48AM (#32702360)
Will everyone afford heating? The most painful point hasn’t been reached yet and some reports suggest it’s got a long way to go (tripling by the end of winter).

https://www.bloomberg.com/news/articles/2022-08-20/price-cap...