Quotation of the Day

John Rentoul

davey 300x200 Quotation of the DayEd Davey, Secretary of State for Energy and Climate Change, Guardian:

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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  • Hayek was right

    Good to see there’s someone with some wits at work at Dept for E&CC. Not Ed Davey obviously but whoever ghosted this piece for him.

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