{"id":260302,"date":"2023-06-02T21:19:55","date_gmt":"2023-06-02T19:19:55","guid":{"rendered":"https:\/\/climatescience.press\/?p=260302"},"modified":"2023-06-02T21:19:58","modified_gmt":"2023-06-02T19:19:58","slug":"sunaks-solution-to-food-price-inflation-socialism","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=260302","title":{"rendered":"Sunak\u2019s Solution to Food Price Inflation: Socialism!"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From The Daily Sceptic<\/a><\/p>\n\n\n\n

By\u00a0NOAH CARL<\/a><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Britain\u2019s last Prime Minister, Liz Truss, sold herself as a liberty-loving free-marketeer. Yet her energy policy was decidedly statist<\/a>. Instead of letting the market handle rising energy prices, she proposed a \u00a3170 billion bailout.<\/p>\n\n\n\n

Truss\u2019s replacement, Rishi Sunak, is generally seen as more pragmatic \u2013 though in July of 2022, he penned an op-ed<\/a> for the Telegraph<\/em> titled \u2018I will be the heir to Margaret Thatcher\u2019. Now, writers don\u2019t often choose their own titles, but Sunak did say, \u201cI am a Thatcherite, I am running as a Thatcherite and I will govern as a Thatcherite.\u201d<\/p>\n\n\n\n

Well, he can repeat the word \u201cThatcherite\u201d as many times as he wants, but that won\u2019t make his solution to Britain\u2019s rampant food price inflation any less socialist.<\/p>\n\n\n\n

According to the Telegraph<\/em><\/a>, \u201cDowning Street is drawing up plans for retailers to introduce price caps on basic food items such as bread and milk\u201d. The newspaper describes this as \u201cthe biggest attempt to manage supermarket prices since controls established by Edward Heath in 1973\u201d.<\/p>\n\n\n\n

It\u2019s the five-year-old\u2019s approach to economic management. If prices are going up too fast, we\u2019ll just cap them. And why stop at price caps \u2013 why not introduce price reductions<\/em>? That would make basic food items cheaper!<\/p>\n\n\n\n

\u201cNo\u200910 insists that any action by retailers would be voluntary\u201d. But why would retailers voluntarily set prices below the market rate? There\u2019s something funny going on. The Telegraph<\/em> talks of a \u201cdeal with supermarkets\u201d, which may mean the government ends up subsidising basic food items. They\u2019ll be taking money out of our left pocket and putting it back in our right pocket \u2013 all while taking credit for \u201ctackling inflation\u201d.<\/p>\n\n\n\n

Just how bad is food price inflation? According to the ONS, Britain is the\u00a0second worst<\/a>\u00a0in the G7 after Germany, which just entered recession.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

In fact, the inflation rate<\/a> for food and non-alcoholic beverages in the year to April 2023 was 19.1%. So Brits are paying almost 20% more for food and drink than they were a year ago.<\/p>\n\n\n\n

Unfortunately for Sunak, the British Retail Consortium has already poured cold water on his proposal, with a spokesman telling<\/a> the BBC, \u201cThis will not make a jot of difference\u201d. Prices aren\u2019t rising because supermarkets suddenly got greedier. They\u2019re rising because of higher energy and transport costs \u2013 which stem from other failed policies<\/a>.<\/p>\n\n\n\n

My advice to Sunak would be to govern a little more like Thatcher, and a little less like Heath. That is, after all, what he claimed he would do.<\/p>\n","protected":false},"excerpt":{"rendered":"

Britain\u2019s last Prime Minister, Liz Truss, sold herself as a liberty-loving free-marketeer. Yet her energy policy was decidedly\u00a0statist. Instead of letting the market handle rising energy prices, she proposed a \u00a3170 billion bailout.<\/p>\n","protected":false},"author":121246920,"featured_media":260307,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691819917,691819918,691818482,691819919],"class_list":["post-260302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-liz-truss","tag-price-cap","tag-rishi-sunak","tag-socialism","fallback-thumbnail"],"jetpack_publicize_connections":[],"jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-15Iq","jetpack-related-posts":[{"id":280272,"url":"https:\/\/climatescience.press\/?p=280272","url_meta":{"origin":260302,"position":0},"title":"Ford 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