Gordon Brown says energy firms unable to offer lower bills should be temporarily re-nationalised
Energy companies that cannot offer lower bills should be temporarily brought into public ownership, Gordon Brown has said, in a stark challenge to political leaders on the day Liz Truss signalled aclimbdown on help for households.
Writing for the Guardian, Brown called for the energy price cap to be cancelled and for the government to negotiate new lower prices with the companies, comparing the situation to the 2009 banking crisis where some banks were temporarily nationalised to protect consumers.
He warned the time for action was slipping away and major decisions had to be made within days. “Time and tide wait for no one. Neither do crises. They don’t take holidays, and don’t politely hang fire – certainly not to suit the convenience of a departing PM and the whims of two potential successors.”
The intervention of the former prime minister and chancellor came as Truss said she had never ruled out giving direct help with energy bills. She would not make further commitments until her proposed September budget, though hinted she would be prepared to look at cutting VAT on bills.
Her leadership rival, Rishi Sunak, said the change showed Truss had made “a serious moral and political misjudgment on a policy affecting millions of people”.
Writing on the day after annual bills were forecast to top £4,200 by January, Brown said the government should “pause any further increase in the cap” and then negotiate separate company agreements to keep prices down after examining profit margins and available social tariffs.
He said that the government should consider bringing into public ownership companies who could not meet that requirement, comparing it to what his government did “as a last resort” in 2009 with banks.
He said before taking
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