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It has been announced that the central bank of Australia has cut base rates in the country by one full percentage point overnight to try and avert a banking crisis in Australia. While this move...
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Thursday 26th June 2008
As the government stepped forward with plans for a £100 billion green energy revolution in the UK there were hopes that finally the rising cost of living would be tackled by the authorities. Surely the green revolution should see the cost of living fall? Surely this would inject some much needed competition into the energy markets with a new alternative? If only things were that simple.............
At a time when it has never been more expensive to live and work in the UK, Gordon Brown has stepped forward with the begging bowl once more, admitting that taxpayers will be asked to fund his new revolution via higher taxes on gas and electricity supplies. Forecasts from the government indicate that gas prices will rise by over 37% a year and electricity prices by 15% to cover the £100 billion needed to kick start (again) the green revolution.
For those market observers hoping that this new move in the energy markets would see prices fall, they were sadly mistaken. Yet again the government is looking to squeeze the last drop from tax payers in the UK and yet again it is all in the name of the environment. Quite where the green taxes of yesteryear have gone is anyone’s guess. |
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