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Neoliberalization

Cost Of Living Crisis Was Caused By Privatisation And Austerity

On official forecasts, the British public is facing the biggest fall in living standards since records began. This is in the headlines now because of the huge rise in energy bills, which will force more households into choosing between eating and heating. Blaming Russia for the surge in energy prices is a classic conjuror’s trick of misdirection. The US gets almost zero oil from Russia, but is currently experiencing even higher consumer price inflation. In reality, a laissez-faire approach to the energy sector is at the root of the problem in both the UK and the US. In France, where EDF is largely nationalized, energy prices are set to rise – but by just 4%. Government and especially Treasury ideology going back to Margaret Thatcher has been based on false assertions about the superiority of private enterprise.
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