Time for cool heads

LISTENING to the BBC this week, audiences must be in a terrible quandary about what to fear most: hypothermia or heatstroke. Confusingly, we appear to be under existential threat from both at the same time.

Poverty charities say families are already having to choose between heating and eating. Climate scientists tell us to stay cool during this hot spell, or we may die.

Of course there are serious cost of living problems coming down the line. But to solve them, we need cool heads, not headless chickens.

Contrary to received BBC opinion, the energy crisis has not completely escaped the Government’s attention. That’s why it spent £15billion on a support package, giving up to £1,200 to the poorest families.

So far, the energy price cap has risen by £693. It is expected to go up by another £1,500 or so in October and some £700 more in January.

This is higher than first thought, so the original support package will almost certainly be extended through a combination of tax cuts and targeted help for the least well-off. To say nothing is being done in advance of a new PM being chosen is simply wrong.

The Chancellor, Business Secretary and Treasury officials are currently meeting energy bosses to draw up options.

When the new price cap is set on October 1, we will know the exact scale of the problem and the PM can act on accurate information, rather than speculation.

We have been here before, and worse, in the early 1970s, when for large parts of the week there was no domestic power at all, thanks to a combination of strikes and high oil prices. Interest rates were around 10 per cent and inflation hit 27 per cent.

The country coped then without descending into mass hysteria. Interestingly though, the constant catastrophism hasn’t stopped us spending.

A new survey shows consumer confidence rising and the markets remain fairly buoyant. So yes, the most vulnerable in society must be protected.

As for the rest, we should do as we’ve always done – keep calm and carry on.