Zoom blames the massive rises in fuel prices and the truth must be that we have indeed seen the end of the era of cheap travel.

Meanwhile, as Russia toys with the idea of turning off the oil supply, Npower and ScottishPower became the last of the Big Six energy suppliers to increase prices for gas and electricity.

In ScottishPower’s case, gas is going up by an astronomical 34 per cent.

So farewell too to the era of cheap energy and relatively cheap food. Andy Clarke of the CBI says: “This has
been a summer that many retailers would rather forget.”

The housing market is in dire straits, with house prices recording their worst annual fall for 18 years. Consumer confidence is at an all-time low and unemployment could stand at two million by Christmas, according to David Blanchflower of the Bank of England’s Monetary Policy Committee.

He is calling for an urgent cut in interest rates to avoid recession.

That is the very least that should be done. Yet our Prime Minister seems to be in some kind of trance, unable to act or offer leadership of any kind.

The trade unions are demanding change at “the highest level”. A Labour “relaunch” is planned in a few weeks time.
Not good enough. We need action now.

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