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Guardian Weekly

Wheel of fortune

Strange things are afoot in the world of economic policy these days. Liz Truss is, by her own account, Margaret Thatcher’s biggest admirer and a fanatical devotee of economic liberalisation. Yet the new prime minister’s first act was to announce the largest government intervention in UK history: a price cap for retail energy markets expected to cost the Treasury more than the entire NHS budget.

It is not an isolated case. The

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