LibLink: Simon Hughes: “Like the banks, new nuclear is too big to fail”

At Comment is Free today, Simon Hughes (Liberal Democrat shadow secretary of state for energy and climate change) challenges the Tories over their “incoherent” new energy policy and calls for greater investment in renewable energy:

Nuclear power has always required huge amounts of public money and David Cameron’s signal that the Tories are ready to turn on the taps of taxpayer support risks billions which we simply can’t afford. Both Labour and the Tories claim that they will not provide any public subsidy, but both know that this cannot be true when the nuclear industry that has never been able to survive without it.

Like the banks, new nuclear is too big to fail. And like the banks, new nuclear depends on a more or less explicit taxpayer guarantee. Once a nuclear power station is running we will have it for the next 40 years, come what may. No responsible government could ever let a nuclear power generator go bankrupt. This has happened before, when the taxpayer had to bail out British Energy £10bn and accept £73bn of their liabilities. As my colleague Vince Cable has said, nuclear power is the Royal Bank of Scotland of the energy industry.

Read the full piece at the Guardian.

Read more by or more about , or .
This entry was posted in LibLink.
Advert

5 Comments

  • David Allen 22nd Mar '10 - 6:35pm

    Renewables, on the other hand, tend to be too small to succeed!

Post a Comment

Lib Dem Voice welcomes comments from everyone but we ask you to be polite, to be on topic and to be who you say you are. You can read our comments policy in full here. Please respect it and all readers of the site.

If you are a member of the party, you can have the Lib Dem Logo appear next to your comments to show this. You must be registered for our forum and can then login on this public site with the same username and password.

To have your photo next to your comment please signup your email address with Gravatar.

Your email is never published. Required fields are marked *

*
*
Please complete the name of this site, Liberal Democrat ...?

Advert



Recent Comments

  • User Avatarexpats 7th Dec - 2:19pm
    ethicsgradient 7th Dec '16 - 1:58pm.....the key thing that has been missing for a while is some form of aspirational vision........Thatcher (love or hate her)...
  • User Avatarethicsgradient 7th Dec - 1:58pm
    the key thing that has been missing for a while is some form of aspirational vision. Thatcher (love or hate her) gave aspiration in feeling...
  • User AvatarLorenzo Cherin 7th Dec - 1:48pm
    Matt I am at the ukip wing edge of our party , I say , as a self parody , on the EU , as...
  • User AvatarLorenzo Cherin 7th Dec - 1:37pm
    A lot of sense on this thread. We must see some of the Greens as allies sometimes, but only then put aside differences. Caroline Lucas...
  • User AvatarPhil Wainewright 7th Dec - 1:35pm
    I'm a firm believer we should have something that stands out as an economic policy, and which speaks to the "left behind". It would reinforce...
  • User Avatartheakes 7th Dec - 1:21pm
    Greens should have a golden opportunity of a Gain tomorrow at Lancaster University Ward, 2015 only 50/100 behind Labour, with us nowhere. On present trends...