With European Central Bank President Christine Lagarde having insisted that the ECB will not bail out producer price and consumer price inflation—governments must do it—the British, as usual, have led the way in monetarist extremism. The bailout of at least $150 billion announced by Prime Minister Truss is on a scale other European governments have not reached, but are ordered to do so.
The household energy aid alone, announced by Truss, will cost more than £120 billion ($140 billion); the corporate bailouts will add at least £40 billion (liquidity bailout), plus additional subsidies for the prices of energy. The total will be a much bigger bailout, even adjusting for the lower value of sterling now, than the £137 billion bailout of the big banks in 2007-09, according to British economic think-tanks quoted by OilPrice.com; which moreover expect that it will lead quickly to rationing. This boils down largely to the British government paying the energy bills of households and corporations and helping further to inflate those bills. (https://oilprice.com/Energy/Energy-General/Economists-Warn-Energy-Bill-Price-Caps-Could-Lead-To-Blackouts-In-UK.html )
