Michael O’Loughlin accuses the CMA of being asleep at the wheel
The oil majors estimated that Peak Oil happened in 2008 and after that, year-on-year, the demand for fuel in the UK has declined and will continue to do so. On the other hand, the cost of doing business has certainly not declined. Minimum wage in 2008 was £5.80 and now it’s £10.40, energy bills have quadrupled, insurance has increased, business rates have climbed and interest rates continue to increase with speed. In short, 70% of the costs of doing business have doubled since 2008, so what the hell is the Competition & Markets Authority (CMA) talking about?
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