Thursday, March 31, 2016

Quote of the day 31st March 2016

"But the law of unintended consequences has had a specific impact on the steel industry: by forcing up energy prices, we helped make it uncompetitive. You can then offset one policy with another, in the case by subsidies for large energy users, as Germany did and we followed."

"But the overall effect has been to damage heavy industry. Tata Steel has done what it can but, had it had Chinese energy prices instead of British prices, it would have been better able to fight off cheap imports."

(Hamish MacRae, writing in the Independent on the steel industry. Full article here)

1 comment:

Jim said...

Every desision, every choice has consequences. Interference in market forces will always have that effect, some intentional some not. That is what more people need to understand, every issue no matter how trivial it seems is far greater when you look at the bigger picture.