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 AvatarGeoffrey Payne 22nd Jan - 7:51am
    I think we should decide what we support as Liberals and lets others worry if they agree with us. This is precisely the march that...
  • User AvatarCatherine Jane Crosland 22nd Jan - 7:44am
    Congratulations and best of luck to Zulfiquar Ali in Stoke on Trent Central, and also to Rebecca Hanson in Copeland :) We are very lucky...
  • User AvatarMatthew Huntbach 22nd Jan - 7:25am
    Peter Watson If it is because these professions are already more accessible to those from less privileged backgrounds, then perhaps there are valuable lessons to...
  • User AvatarRebecca Hanson 22nd Jan - 6:31am
    Thanks Katharine. We're running at full throttle here - I've been on the go for 18-20 hours most days. I got some great training from...
  • User AvatarGlenn 22nd Jan - 4:38am
    P.s, My apologies I retract the Hyperthermia/medical example as it was based on an out of date book and more recent findings suggest that a...
  • User AvatarLorenzo Cherin 22nd Jan - 2:42am
    Catherine What a lovely thing to say , thank you . I really do feel that when I read views like yours on say nuclear...