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The actual move that will destroy public finances (even more) isn't the tax cuts for the 'wealthy', that's of relatively minor impact. The fiscal nuke is the en
by origin_path 4y ago
The actual move that will destroy public finances (even more) isn't the tax cuts for the 'wealthy', that's of relatively minor impact. The fiscal nuke is the energy price cap. The cost of preventing local energy prices from going over real wholesale prices is likely to be astronomical unless global gas prices fall significantly.
- Veen 4y agoFortunately, it appears wholesale gas prices are falling quickly. If the trend of the last couple of weeks continues, the energy price cap will be significantly less expensive than predicted (although there is no guarantee it will continue to fall). https://tradingeconomics.com/commodity/eu-natural-gas https://tradingeconomics.com/commodity/eu-natural-gas And yes, removing the higher income tax band will have little impact on the economy overall.
- illiac786 4y ago>If the trend of the last couple of weeks continues In the current volatility, which is lasting since a year now, a trend of a couple of weeks means absolutely nothing in my view…