This week the inexplicably drawn-out conservative party leadership election carried on with yet more hustings generating yet more policy ideas that the market at least has to consider taking seriously.
The civil service and now the financial regulators are the latest departments slated for surgery under the new regime, although why that’s seen as a high priority issue to campaign on remains a mystery. It is unlikely to happen, but also unnecessary. Taking back control means a large amount of regulating that was previously outsourced to the EU will need to be done here, necessitating a larger civil service rather than a smaller one. Something I suspect is well known by the politicians suggesting otherwise.
Elsewhere the US has decided to tackle inflation through policy. The Inflation Reduction Act signed this week is primarily a climate policy rejigged to focus on energy costs. Subsidising the rapid build out of renewable energy, energy efficiency measures such as heat pumps and the transition to electric vehicles, as well as boosting oil and gas short term, looks to solve the problem by reducing energy needs while boosting supply.
For the following stories, please click on this link*
- UK – Inflation surpassing expectations sets tone for future rates
- Electrical Retailers – Pandemic retailers feeling the slowdown
- Semiconductors: Ever important despite falling prices
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