London Daily

Focus on the big picture.
Thursday, Apr 23, 2026

Bold action needed now on energy bills, says Alistair Darling

Bold action needed now on energy bills, says Alistair Darling

Chancellor during 2008 banking collapse says ‘fiddling around with small measures’ will not be enough
Ministers must act immediately on soaring energy prices to avoid people being hit with a “lethal cocktail” of high inflation and recession, Alistair Darling, the Labour chancellor during the 2008 banking collapse, has said.

With Liz Truss, the expected successor to Boris Johnson, still refusing to set out what additional help she could give households to pay bills, Darling said a key lesson from the 2008 crash was that action needed to be swift and radical.

“You need something significant and substantial and you need it now, because people’s bills are going to start coming in in a few weeks’ time,” Darling, who served as chancellor under Gordon Brown, told BBC Radio 4’s Today programme.

“If you don’t do that then you have the risks that I’ve been describing, that the economy will slip into recession, with all that entails. And when you’ve got that on top of the fact you’ve got inflation already at very, very high levels we haven’t seen since the 1970s, this is a lethal cocktail, which is why it needs bold action taken by the government now, not fiddling around with small measures that frankly won’t make any difference at all.”

While the government has already offered some support to households, Darling said this was now far from sufficient to meet the scale of the crisis.

He said: “Frankly, the stuff that’s been announced so far might have passed muster earlier this year. It simply won’t do now. You need something far more substantial than that unless you are willing to see substantial damage being done to our economy.”

A lesson from 2008 was that “you’ve got to do more than people expect and you’ve got to do it more quickly than people expect if it’s going to work”, Darling said.

“It’s going to cost money. When I announced the package in 2008 when it was the banking crisis, it amounted in total to about £500bn, but actually we got all of that money back over the following years. So what I think we need to see today from the government, from the new prime minister, is measures that will be big enough to deal with this.”

One new poll has said energy prices, which will increase by 80% in October and go up sharply again in January, mean 23% of UK adults will not use their heating at all this winter.

Truss has not ruled out offering direct support to people with energy bills, but she has repeatedly said her primary focus would be tax cuts, an intervention that would disproportionately benefit better-off households and offer less or no help to people reliant on pensions or benefits.

The result of the Conservative leadership contest will be announced next Monday, with Truss seen as almost certain to defeat Rishi Sunak. The winner is expected to be made prime minister the next day.
Newsletter

Related Articles

0:00
0:00
Close
Crypto Scammers Capitalize on Maritime Chaos Near the Strait of Hormuz: A Rising Threat to Shipping Companies
Changi Airport: How Singapore Engineered the World’s Most Efficient Travel Experience
Power Dynamics: Apple’s Leadership Shakeup, Geopolitical Risks in the Strait of Hormuz, and Europe's Energy Strategy Amidst Global Challenges
Apple's Leadership Transition: Can New CEO John Ternus Navigate AI Challenges and Geopolitical Pressures?
Italy’s €100K Tax Gambit: Europe’s Soft Power Tax Haven
News Roundup
Microsoft lost 2.5 millions users (French government) to Linux
Privacy Problems in Microsoft Windows OS
News roundup
Péter András Magyar and the Strategic Reset of Hungary
Hungary After the Landslide — A Strategic Reset in Europe
Meghan Markle Plans Exclusive Women-Focused Retreat During Australia Visit
Starmer and Trump Hold Strategic Talks on Securing Strait of Hormuz Amid Rising Tensions
Unofficial Australia Visit by Prince Harry and Meghan Expected to Stir Tensions with Royal Circles
Pipeline Attack Cuts Significant Share of Saudi Arabia’s Oil Export Capacity
UK Stocks Rise on Ceasefire Momentum and Renewed Focus on Diplomacy
UK to Hold Further Strategic Talks on Strait of Hormuz Security
Starmer Voices Frustration as Global Tensions Drive Up UK Energy Costs
UK Students Voice Concern Over Proposal for Automatic Military Draft Registration
Rising Volatility Drives Uncertainty in UK Fuel and Petrol Prices
UK Moves to Deploy ‘Skyhammer’ Anti-Drone System to Strengthen Airspace Defense
New Analysis Explores UK Budget Mechanics in ‘Behind the Blue’ Feature
Man Arrested After Four Die in Channel Crossing Tragedy
UK Tightens Immigration Framework with New Sponsor Rules and Fee Increases
UK Foreign Secretary Highlights Impact of Intensified Strikes in Lebanon
UK Urges Inclusion of Lebanon in US-Iran Ceasefire Framework
UK Stocks Ease as Ceasefire Doubts in Middle East Weigh on Investor Confidence
UK Reassesses Cloud Strategy Amid Criticism Over Limited Support Measures
UK Calls for Full and Toll-Free Access Through Strait of Hormuz Amid Rising Tensions
Starmer Signals Strategic Shift for Britain Amid Escalating Iran-Linked Tensions
UK Issues Firm Warning to Russia Over Covert Underwater Military Activity
OpenAI Halts Stargate UK Project, Casting Uncertainty Over Britain’s AI Expansion Plans
Starmer Voices Frustration Over Global Pressures Driving UK Energy Costs Higher
UK Deploys Military Assets to Protect Undersea Cables From Suspected Russian Threat
Canada Aligns With US, UK and Australia as Europe Prepares Major Digital Border Overhaul
Meghan Markle’s Planned Australia Appearance Sparks Fresh Speculation
Starmer Warns Sustained Effort Needed to Ensure US–Iran Ceasefire Holds
UK to Partner with Shipping Industry to Rebuild Confidence in Strait of Hormuz, Cooper Says
UK Interest Rate Expectations Ease Following US–Iran Ceasefire Agreement
Starmer Signals Major Effort Needed to Fully Reopen Strait of Hormuz During Gulf Visit
UK Fuel Prices Face Ongoing Volatility Amid Global Pressures and Domestic Factors
Kanye West’s Planned Italy Festival Appearance Draws Debate After UK Entry Ban
Smuggling Routes Shift Toward Belgium as Migrant Crossings to UK Evolve
Ceasefire Offers Potential Relief for UK Fuel and Food Prices Amid Ongoing Uncertainty
Iran Conflict Raises Questions Over UK’s Global Influence and Military Preparedness
Senator McConnell Visits Kentucky to Highlight Federal Investment in Local Projects
Kanye West Barred from Entering UK as Legal Grounds Come into Focus
UK Denies Visa to Kanye West After Sponsors Withdraw from Wireless Festival
Trump-Era Forest Service Restructuring Leads to Closure of UK Lab Focused on Kentucky Woodland Health
Foreign Students in the UK Describe Harsh Living Conditions and Financial Pressures
×