The global share market has always been dominated by the US, now we’re seeing a number share of very large tech companies claiming a larger slice of that pie. Even though they are trading with price to earnings ratios well beyond the historic average, these companies won’t fail. They dominate the market, with billions of customers, low production costs, a low number of workers and the spare cash to vest in growth without the expense of extra capital.

Phil asks Steve, what damage are these companies doing – to the share market, to the global economy and to investors. So we need to knock these companies down to size? Steve thinks not, but has another way of tackling the issue.

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Labour has romped to victory in the UK and they need to get cracking on all their election promises. One of those is the creation of Great British Energy. Keir Starmer points to the number of foreign interests owning energy generation in the UK. But, as Phil highlights this week, foreign companies are also heavily invested in energy distribution and retailing. The National Grid is suffering from a lack of investment. Doesn’t that also need to be brought into public hands. And what about all the energy retailers who dd nothing to the picture apart from extra marketing costs, confusing plans and the risk of collapse.

Phil asks Steve whether, if you add all of this together, isn’t there a strong case to put the entire energy delivery chain into public hands, from creation to delivery. But that’s not what Keir Starmer is planning., even though its accepted wisdom in most parts of the world.

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