Energy privatisation was a huge mistake

Sir, – In the last 12 months inflation has jumped from 1.5 to 9%, gas prices have risen by 95%, petrol and diesel bills have gone up by 35%.

These are the biggest spikes in the cost of living since the 1980s. However, wages have stagnated for the past 14 years.

This is part of a deliberate strategy by the Tories to impoverish workers and send income flows up the way towards their billionaire donor class. Inflation for those on the lowest incomes is actually closer to 11%.

The grim economic news has meant the pound has fallen over the last few weeks. It is now worth $1.20 which reflects the pessimism investors have of this zombie UK economy.

In 2017 the Tories allowed the rough gas storage facility in Yorkshire to close. This was owned by British Gas who said it was “too costly” to maintain.

Had the Tories under Thatcher not given away the energy utilities in the 1980s to the private sector this

would not have occurred. In a nationalised energy sector any profits made would be invested back into the country, not given to private shareholders as now.

Boris Johnson and Chancellor Rishi Sunak have refused to tax the profits of the energy companies.

They argue this would “discourage investment” even though the boss of BP said it would not be the case. Johnson ludicrously claims the Tories are the party of “low taxation” even though they have raised taxes for ordinary workers to their highest level for 70 years.

Sky News commissioned a poll that found 27% of people in the UK aged 16-75 have missed out on meals in the month of April. This was to negate the rise in other costs. The same poll found 65% of people had not turned on their heating to try to save money.

Marks & Spencer warned that food prices could spike by another 10% by the end of the year. Bank of England governor Andrew Bailey argued the spike in inflation is causing great uncertainty within the economy.

The neoliberal capitalist

system is rotten and corrupt to the core. It is leading the planet to ecological destruction. It needs to be overthrown and consigned to the dustbin of history. The first act of a newly independent Scotland should be to repudiate this system of greed and misery.

Alan Hinnrichs. Gillespie Terrace, Dundee.