The peacocks are back!

 

The first day in the life of Miz Liz as PM went ‘according to script’, a script she and her team have developed during the last weeks of her campaign, says the Speccie in their email newsletter. That includes her first PMQ. I couldn’t force myself to watch it: the sun was shining, it was lovely outside and the garden needed a bit of tidying up.

The various parliamentary sketch writers scribbling about yon PMQ were careful not to rain on Truss’ parade. The DT has taken a leaf out of the DM’s book, providing us with a summary headline so we don’t need to read the whole thing:

“Amid thigh-slapping, raucous Tory cheers, Truss’s first PMQs was assured and refreshingly direct – The new Prime Minister even left Keir Starmer flummoxed – and Angela Rayner looking like she’d swallowed a wasp” (paywalled link)

In other words, we’re back to the Theatre of Peacocks that is the HoC. Truss announced one thing she’ll do today: freeze energy prices. This is the top subject in this morning’s print editions (link). We’ll have to wait for the details to be ‘unveiled’ later today. The DM, as always, manages to squeeze a full article into their headline:

“Brits must NEVER face rocketing energy bills again, Liz Truss to pledge as she unveils energy revolution that will will freeze bills at £2,500, launch a new dash for North Sea gas, and restart fracking” (link)

What a beautiful example of ‘jam tomorrow’! These are Truss’ plans, they’re not reality, and if there’s one thing we ought to have learned it’s that there is indeed many a slip twixt cup and lip, as our grannies told us, when it relates to government plans.

I find it very interesting that we’re told to be happy with a ‘price freeze’ at £2,500pa for our household energy bills. It looks generous compared with the projected rise to £3,500 or £6,000 for next year. It is however still double of what we paid a year ago. The DT has some details of what Truss will say (my emphasis):

“Britons must never again be forced to pay exorbitant energy bills, Liz Truss will declare on Thursday as she promises more North Sea drilling and ditches the fracking ban. Annual energy bills will be frozen at around £2,500 for the average household both this winter and next, and green levies will be scrapped. Businesses will get protection from energy price rises in a pandemic-style government intervention that could end up costing more than £150 billion.” (paywalled link)

While it’s good that the green surcharges will be scrapped – I believe it when I see it – and while it’s good that there will be fracking, I note that Net Zero hasn’t been mentioned and that apparently VAT on energy bills will remain. Well, somehow those ‘pandemic-style interventions’ of £150bn must be paid for, mustn’t they.

Moreover, there’s no mention of nuclear energy. Shouldn’t investing in more nuclear power stations be a main point in making the UK energy-self sufficient, or is this a step too far for the turquoise Tories? Unsurprisingly, Truss’ ‘ministers’ (anonymous as always) are already in nudge-mode. The Times reports that:

“Ministers are drawing up plans for a public information campaign to encourage people to reduce energy use this winter amid fears that a price freeze will deter them from doing so. There is concern within government that an intervention by Liz Truss to tackle the sharp rise in energy costs could increase the risk of blackouts if it means that households and businesses do not reduce consumption.” (link, paywalled)

We’ve been here before, haven’t we! The covid years have taught us that rising infection rates were our fault for not complying with lockdown and mask-up rules. So expect a campaign akin to the fabulous ‘protect the sacred cow’ one, telling us plebs that “we” must save the economy by shivering in our homes, that blackouts will be our fault because we’re deplorable energy profligates.

This shows prettily that the Westminster denizens live on a different planet. People on average incomes won’t be able to be profligate anyway, not when energy bills are double that of a year ago and inflation is now over 10%..

That’s the first fly in the ointment. There’s another one. The FT reports in their leading article this morning that the £ has fallen to its weakest level since 1985 after the announcement of Truss’ energy plans

“The pound sank as low as $1.1406, according to data from Bloomberg, lower than the aftermath of the Brexit vote of 2016 and exceeding the depths of March 2020 when global markets convulsed in response to the Covid-19 crisis. Sterling has fallen 15 per cent against the dollar this year.” (link, paywalled)

That is not exactly encouraging, given the already existing inflation because any imports will become more expensive. There’s more, with a warning from the BoE:

“The package will be funded by government borrowing, adding to demand in the economy at a time when inflation is above 10 per cent; […] Huw Pill, BoE chief economist, made it clear the bank would have to raise interest rates in light of higher medium-term inflationary pressure from the government’s actions, but he would not be drawn on how far rates needed to rise.” (link, paywalled)

This ‘freeze energy bills’ plan looks like a pretty gift to the nation – don’t get me wrong, it is welcome and needed – but why do our MSM not say that this is pure populism? It’s a solution akin to squeezing one end of a balloon to make it look small while at the same time the other end becomes larger. Thus expect more inflation while mortgages will rise. There’s simply no breathing space for us ordinary peasants to become profligate.

However, in advance of the expected ‘nudges’ coming from Truss’ No 10, the DT today has already two articles for their Audi Avenue readers. One (paywalled link) describes six proposals for how to ‘save energy’ when cooking. The first is to get an Air Fryer … whereupon I stopped reading. Check out how much they cost. Audi Avenue denizens might be able to afford them, not so a family on median income.

The other article is utterly disgusting and only practical for urbanites armed with smartphones and lots of time on their hands to drive around. The headline says it all:

 “I fed my family on other people’s leftovers for a week – here’s how it went: Using various food-sharing apps, Lucy Denyer tried living off unwanted produce salvaged from cafes, shops and other households” (paywalled link)

This thing is accompanied by the photo of a posh, dressed-up mum and three kids chomping away. So the ‘solution’ is for working women to drive around, using costly fuel and smartphone apps needing electricity to be charged! If a posh mum can do it and survive, so can we plebs! Just walking to a local grocery store doesn’t cut it any longer …

I’ll finish with the link to the cartoon in today’s Times. That is a proper statement describing the Truss cabinet. And they’ve already been given a ‘dress code’: no more sloppy Cummings outfits (paywalled link).

Blimey, aren’t we lucky to have this ‘new’ government! It’s what we all have been longing for, innit! Happy times ahead … not!