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 AvatarR Uduwerage-Perera 30th Mar - 6:43am
    At this moment the idea of a Labour/LibDem/SNP Coalition strikes me as potentially far more progressive than the current Coalition.
  • User AvatarDavid-1 30th Mar - 6:36am
    I think the usual approach to immigration is completely backwards. People start by asking "how many immigrants can we tolerate?" and, once that is answered...
  • User AvatarAlex Sabine 30th Mar - 4:39am
    @ Stuart This is getting rather tiresome... I did get it, I have studied economics and have a reasonable grasp of statistics. I know the...
  • User AvatarAlex Sabine 30th Mar - 3:28am
    @ Stuart "There is no need for you to come up with your own “interpretation” of what Labour’s pledge means, because Labour have been very...
  • User AvatarAlex Sabine 30th Mar - 3:10am
    @ PT I agree with you that GDP per head is a better proxy for economic welfare than the absolute level of GDP, which merely...
  • User AvatarGary Mc 30th Mar - 12:47am
    I've noticed all of the polls seem to give the SNP more seats than us (Liberal Democrats). I'm not sure the SNP will win as...
Tue 31st Mar 2015
Sun 5th Apr 2015
Sat 11th Apr 2015
Sun 12th Apr 2015
Sat 25th Apr 2015