SPRING IS IN full bloom, but a chill is blowing through Britain’s draughty homes. The war in the Gulf has pushed the price of natural gas to levels not seen since Russia’s invasion of Ukraine in 2022. Elsewhere governments are acting. Australia is halving its fuel excise tax for three months. Ireland has cut duty on petrol and diesel. Spain has announced €5bn ($5.7bn) of tax cuts and subsidies. In Britain, where one in four people say they could not afford a one-off expense of £850 ($1,120), pressure for relief is mounting.
