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Britain’s people have been shafted in the EDF Hinkley nuclear deal

UK-subsidyThe EDF Hinkley Deal: We Have Been Shafted, City Unslicker 10 Oct 14“………..And now we find that UK plc has fallen for the same trick, but on a scale with so many noughts added, I’m not sure they can be counted.  The EDF Hinkley deal, which the EC socomprehensively demolished 9 months ago, has been passed because of a small alteration which makes it just fine: an upside sharing device for the UK to claw back a bit of the gargantuan subsidies, in the event EDF’s profits are above a certain exorbitant level.

 Ah yes.  Profit on the construction and long-term operation of nuclear power plants, operated by an arm of the French state.  Does anyone on the planet reckon that the books which will be presented in due course will bear any relation to reality?

For many years now I have been predicting the French will get the rest of Europe to pay for its nuclear industry as surely as we all pay for their agriculture: and so it has come to pass.   The gormless gits in Whitehall have served it up on a platter.  There are some early rumours as to how the political fix was achieved, but we may never really know.  Will the Germans and Austrians really block it at the eleventh hour ?  I’m not pinning much hope on that.

This ‘French Tax’ on UK plc will run for 35 years, and will end up being an identifiable percentage of GDP.  Countries have gone to war for less.  The ‘deal’ (which, incidentally hasn’t yet been signed) needs to be repudiated fast:  I might even join UKIP if they make it part of their manifesto. http://www.cityunslicker.co.uk/

October 11, 2014 - Posted by | general

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