We need honesty on the price of energy – all we are getting is spin

Government and opposition are engaged in a conspiracy of make-believe economics, writes John Rentoul

Kwasi Kwarteng, business secretary, trying to look as if he is doing something (Aaron Chown/PA) (PA Wire)

Anyone who wants politicians to tell the truth, look away now. A truthful politician would say that the price of natural gas has gone up and there is little the government can do about it – all it can do is to try to protect the vulnerable, but that will cost money, which has to come from somewhere.

Instead, we get the two main parties competing to reassure all voters that something is being or would be done to protect everyone from market forces at no cost to anybody.

Kwasi Kwarteng, the business secretary, had a meeting with the energy companies, who want the government to give them a £20bn bailout, and they agreed to have further meetings “to ensure UK consumers are protected”. In other words, they didn’t agree on anything but the government looks as if it is doing something.