Quotation of the Day
Ed Davey, Secretary of State for Energy and Climate Change, Guardian:
Tagged in: economics, market forces
Imagine a 20-month price freeze. Wholesale prices on international markets, which I don’t think Ed Miliband is claiming he controls, go up by 10%. That’s 47% of the bill. If you’re a small supplier, you’d go bankrupt. If you’re a big company, you’d take it on your balance sheet. Prices go up, small, independent competitors go out of business, the big six is created again. Well done, Mr Miliband! You really understand market economics don’t you?
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