An election gimmick calling for price controls is asking for trouble, says Record View.
Basket case plan doesn’t check out
High school pupils currently studying for their Nat 5 exam in economics could have warned John Swinney of the perils of the state dictating price controls. The First Minister is right to want to do more to ease the cost-of-living crisis which continues to hammer household budgets.
But state intervention on how much shops can charge for everyday items like bread or milk is asking for trouble. As a student of political history, the SNP leader should be aware of the mess Ted Heath’s Tory government found itself in during the early 70s when it introduced price controls across the UK in a desperate bid to reduce inflation.
The sums didn’t add up then and they don’t look any better in 2026. The independent Institute of Fiscal Studies yesterday warned that price controls could have the unintended consequence of creating shortages on supermarket shelves.
If prices for basic items such as bread are set above the market average, the policy is toothless. But if prices are set below, the sober-minded IFS warns this “radical and risky” position could cause havoc.
Given the polling lead commanded by the SNP with three weeks until the Holyrood election, it’s incredible that senior party figures agreed on such a bonkers policy. They might have no intention of seeing it through, and instead view it as a pleasing distraction from their decidedly patchy domestic record in office since 2007.
But it’s now caused many Scots to question whether the party can be trusted to run the economy.
No friend of ours
In his latest foray to Scotland, Nigel Farage has chosen to treat us to his views on independence. The Reform UK leader said IndyRef2 would be “quite reasonable” if the issue becomes “relevant” in future.
He said he remains opposed to independence but said he cannot predict how people will feel about the issue in 20 years’ time. The reality is Farage cares not a jot about Scotland and his views about independence are irrelevant.
He is no fan of the Scottish Parliament and would scrap the Barnett Formula, which provides Holyrood with a funding boost, in a heartbeat. Independence is a live issue north of the border but it is the people of Scotland whose views count.
Farage is nothing more than an occasional day tripper whose bar room outbursts should be ignored. He is a menace and voters across the UK should give him the cold shoulder.
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