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 AvatarPaul In Wokingham 24th Nov - 11:31pm
    @Theakes - today's Ashcroft poll is consistent with similar dire polls over a long period. The party is not prepared to listen. It prefers its...
  • User AvatarMatthew Huntbach 24th Nov - 10:51pm
    Stevan Rose But I would never have bothered to post at all had it not been for a small group ganging up and accusing those...
  • User AvatarJimble 24th Nov - 9:59pm
    Rennard's Rochester Verdict. Wonder what Clegg thinks? http://t.co/JjI7tJXBJd
  • User AvatarBolano 24th Nov - 9:40pm
    @John Roffey I increasingly find myself coming to the conclusion that NC is just, simply misunderstood: that he is a bureaucrat who has somehow deceived...
  • User Avatarnvelope2003 24th Nov - 9:00pm
    Sally: Yes of course you are absolutely right and I detest all that sort of thing but I do not think any Government anywhere in...
  • User Avatarnvelope2003 24th Nov - 8:44pm
    Re the above comments. I think you rather missed the point. I was simply stating that many though not all resented having to pay taxes...