Tough decisions: PM Rishi SunakThe drive to close the purported £50billion gap in Britain's public finances is being treated like a national emergency. In a flash, some $200billion (about a quarter of the gap in Britain's public finances) was wiped off the $1.1trillion market value of Amazon shares in a moment. One might ask what does this have to do with British public finances? Many long-term gas contracts are hedged so that it takes time for market price changes to reach customers. The cost to the Exchequer of the much-debated and truncated Energy Price Guarantee is vanishing before our eyes – lowering the burden on the public finances.

Source: Daily Mail October 29, 2022 06:38 UTC