Friday, 19 August 2022

Energy Price Cap; Tory Leadership Contest

If energy companies are getting record profits, they clearly don't need the energy price cap to be raised. Clearly, companies wouldn't suffer if the cap were frozen.


The solution that Lizz Truss puts forward? Tax cuts.


The less money one makes, the less tax one pays, thus the less money a tax cut puts back in one's pocket. 


People with lower incomes need help paying bills the most yet they're the people that will benefit the least from tax cuts. 


So Truss saying tax cuts will help with rising energy prices shows an utter lack of thought and understanding.


Truss is, after all, fighting to win the hearts of the Tory membership. Tax cuts are their bread and butter. 


Sunak's approach, however, differs: his policies are aimed to also appeal to the wider electorate. That is, Sunak's campaign is to win an election.


If Truss wins, she'd be less likely to win a general election than Sunak. So do I hope she wins so that the Conservatives are voted out of power? Does this long-term benefit outweigh the damage Truss' policies will do in the meantime?

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