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The UK gov't is risking a significant collapse in public confidence as the country deals with an energy price crisis at the same time as a shortage of lorry drivers and supply chain issues see shelves empty in some supermarkets. Javier Blas at Bloomberg tweets on the issues the gov't faces:

  • "Oil major BP tells British government that some of its UK fuel stations have run out gasoline and diesel due to supply-chain problems (read there, a shortage of truck drivers). In a statement, BP says: "We are experiencing some fuel supply issues. So the UK is right now: Paying the highest ever wholesale electricity prices, Suffering the highest ever wholesale gas prices, Rising retail power / gas prices, BP is running short of gasoline, And 1.5 million households have seen their retail energy provider collapse"
  • The gov't has sought to ease public fears about the impact of higher energy prices and the potential for stock shortages, especially in the run-up to Christmas.
  • A cost-of-living squeeze coming in the form of rising food price inflation, record-high energy bills, a pending cut to universal credit, and the eventual implementation of a 1.25% hike in employee contributions to National Insurance could combine to put significant pressure on the Johnson gov't.
  • Opinion polls continue to show the Conservatives with a lead over the main opposition Labour Party, but the gap is narrowing and a cost-of-living crisis could see PM Boris Johnson's party fall behind Labour.