The UK is heading for de-industrialization at a faster pace than even Germany – the “Budget” on 30 October 2024 will provide the blueprint for massive industrial action and extreme energy poverty
From here:
“British companies are paying the highest electricity prices of any country in the developed world.
The cost of power for industrial businesses in the UK has more than doubled, increasing 124 percent in just five years, according to Government figures.
Industrial electricity prices in the UK are about 50 percent more expensive than in Germany and France, and four times as expensive as in the United States.
High energy prices are crippling domestic manufacturers in the UK. Despite those prices, Ed Miliband, the UK Energy Secretary, wants industrial businesses to switch from clean natural gas to very expensive electricity-powered processes.”
I have still not received a reply to my enquiry to the US energy Information Agency (IEA) to reconcile the price of a single natural gas futures contract that prices at 3 dollars - to the electricity price charged to US households. The energy content of that single futures contract = 10,000 mmBTU = 3,000 MWh v the average price for households across the US of around 15 bucks per kWh.
A crucial unput component of the ability for any country to compete in world markets is the price of energy.
Germany is struggling for any economic growth whatsoever over the last two calendar quarters – teetering on recession.
Like the rest of the world, prices of food and energy for consumers should have returned to levels prevailing prior to the C19 scamdemic. They haven’t – they remain 25-50% higher than 5 years ago – mostly due to the high cost of energy being passed along the supply chai to final goods and services.
Insanity.
UK companies will shut down and move to areas where the loony left, chicken little energy policies are not prevalent, like China and India.
The result will be a depression, not a recession, in the UK, unless ALL the “woke” energy policies are abandoned completely. Along with a depression will come rising social tensions and crime rates – as always happens during desperate economic times.
The upcoming “brutal budget” will double down on the “woke” lunacy of “net zero”, uncontrolled immigration and experimental FAILED experimental mRNA injections, condemning the UK to poverty, sickness and shortened average life expectancy.
Socialism is as socialism does – create misery.
UK annual GDP and national debt are around 2.7 trillion pounds. Th deficit for fiscal year ended 4 April 2024 was around - as per Brave AI snippet - “based on the available data, we can infer that the deficit was likely higher than the £46.9 billion estimated for the fiscal year ending March 2025, but lower than the £114.1 billion forecast for the fiscal year ending March 2024.”
The brutal budget will raise taxes and increase spending and pretend that money spent on “net zero” wind turbines and solar panels is “capital” – financed by debt, rather than “spending” – again finance by debt/
The markets will gasp at the fake accounting used by the socialists.
Onwards!!!
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I think the situation is significantly worse that you are saying here.
The main earner in UK is financial services in the City of London and much of our manufacturing has already disappeared. The City is not British. It is an international criminal syndicate and it is planning to move out. In fact, there are signs that it has already begun to leave Blighty, blighted in its wake.
https://francesleader.substack.com/p/united-kingdoms-death-spiral
The same happening in Germany. The insane war upon fossil fuels has nothing to do with the climate, but is all about the destruction of our western way of life and freedom. The puppet masters holding the strings sadly are very powerful and rule most of the formerly known as Free West. Hopefully the voters will wake up in time to prevent the totalitarian dystopian plan.