And so to a conference last week, where Liberum Capital’s Peter Atherton, always good value, outlined how Ed Miliband’s size nines in the energy market had wiped £8 billion off the value of UK utilities relative to the stock market in a matter of months. Atherton argued that Miliband’s threatened price freeze broke the longstanding “compact” between government and investors, which was essentially an unspoken agreement that investors would back otherwise financially unsustainable projects to meet policy objectives, while for their part, government would guarantee reasonable returns.
Cost of living hysteria is killing investment
