MP de­rides Mrs May’s ‘Marx­ist’ cap on prices

Scottish Daily Mail - - News -

THERESA May’s plan to cap en­ergy bills ran into trou­ble last night as she was ac­cused of liv­ing in a ‘Marx­ist uni­verse’ and warned some house­holds could see their prices rise.

Min­is­ters un­veiled leg­is­la­tion yes­ter­day that will give reg­u­la­tors the power to set max­i­mum gas and elec­tric­ity prices for 18mil­lion house­holds on stan­dard vari­able tar­iffs.

Busi­ness Sec­re­tary Greg Clark said the cap, which will not come into force un­til next year, would run ini­tially un­til the end of 2020, but could be extended into 2023.

Tory MP Sir Des­mond Swayne drew a com­par­i­son with uni­ver­si­ties. He said: ‘I want to es­cape this Marx­ist uni­verse. We cap univer­sity fees and, lo and be­hold, all uni­ver­si­ties charge the max­i­mum.’ Ju­lian Jes­sop, of the In­sti­tute of Eco­nomic Af­fairs, said: ‘Given the cap is un­likely to be in­tro­duced un­til next year, sup­pli­ers could just raise prices in the mean­time.’

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