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.
Bookmark the web address for this page or use the short url http://ldv.org.uk/18479 for Twitter and emails.
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.

Your email is never published. Required fields are marked *

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

Advert



Recent Comments

  • User AvatarGeo Meadows 30th Jun - 10:16am
    Caroline Lucas floated the Progressive Alliance idea a few weeks ago, well before Paddy. Defining what progressive means is difficult of course. Greens certainly (too...
  • User AvatarMatthew Huntbach 30th Jun - 10:11am
    Andrew The problem is not the people who only vote in General elections, but the fact that many of our local voters (even when we...
  • User AvatarPeter Chivall 30th Jun - 10:04am
    Dodgy physics, Jenny, but never mind. Whichever version of nuclear fission reactors we choose, they will be expensive to build, be up to 10 years...
  • User AvatarRoger Lake 30th Jun - 9:23am
    6. 6.23 "First" See the last para of my starting piece: building the Mayday Alliance should go on alongside all the other things parties do,...
  • User AvatarDal 30th Jun - 9:22am
    There is a hopelessly optimistic dream that runs through a number of LDV posts and comments. It is that one day there will be an...
  • User AvatarSteve 30th Jun - 9:12am
    A very interesting debate. I must get down to reading the Greens manifesto etc as my thoughts had been moving me in that direction for...
Tue 30th Jun 2015
Wed 1st Jul 2015
Thu 2nd Jul 2015
Fri 3rd Jul 2015
Sat 4th Jul 2015
10:00
10:00
Sun 5th Jul 2015
03:00
Mon 6th Jul 2015
Wed 8th Jul 2015
Thu 9th Jul 2015
Fri 10th Jul 2015
Sat 11th Jul 2015
Sun 12th Jul 2015
Thu 16th Jul 2015
Sat 18th Jul 2015
Sun 19th Jul 2015
Thu 23rd Jul 2015
Sat 25th Jul 2015
Sun 26th Jul 2015
Mon 27th Jul 2015