No rationing | Josie Pagani

STRAIGHT AND TRUE

No rationing


Man is born free but everywhere we are in supply chains. Rousseau’s point was that we are greater slaves to others than we realise. We are slaves to the quantity of oil and gas getting out of the Persian Gulf.

Iran is not falling apart yet, so it’s hard to see shipping moving freely around the Persian Gulf any time soon.

Nicola Willis is right to focus on targeted support through the tax system. But the Government’s talk of “worst case scenarios” and possible rationing shows they have learnt nothing from the mistakes of Covid, when local fruit shops and butchers were wiped out and supermarkets preferenced.

I have limited sympathy for businesses that did not hedge by buying political risk insurance or options to buy extra fuel if needed. If businesses didn’t know there was a risk that conflict might metastasise in the Middle East, and that fuel supplies might be disrupted, well congratulations. You’re the prime minister.

Josie's column in the Post is here.

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