Government and especially Treasury ideology going back to Margaret Thatcher has been based on false assertions about the superiority of private enterprise. It was why she sold the huge strategic asset of BP for a pittance. It is the same ideology that now dismisses the demands for energy nationalization.

We should be clear that surging prices are not a naturally occurring phenomenon. They are a product of government policy, of what used to be known as austerity policies. Last year, it was incorrectly asserted by many commentators that Boris Johnson had ended the age of austerity. Those claims now look ridiculously ill-judged

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