Fuel for thought

FOR all but the most obsessed, the iniquities of Partygate are a mere bagatelle compared to coping with the worst cost of living squeeze in a generation.

Amid fears that skyrocketing energy bills will plunge two in five households into fuel poverty, the Government must explain how it can help those facing genuine hardship.

A windfall tax on energy giants to help struggling families should not ordinarily be the answer. Such levies deter long-term investment and clobber pensions.

But Rishi Sunak’s plan to target only those firms not investing vast profits in new infrastructure seems innovative.

Britain’s shambolic energy policy has played a part in this nightmare. Fearing the eco-lobby’s rage, successive governments have run down nuclear, abandoned North Sea oil and gas, and shelved fracking.

Now we are beholden to unreliable renewables and turbulent global markets – and the chickens have come home to roost in the form of eye-watering bills.

Investing in domestic energy will eventually give consumers a much bigger windfall.