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British Conservative govt overturns its previous opposition to socialising the nuclear power industry

UK takes £5bn stake in Welsh nuclear power station in policy U-turn, Ministers reach initial agreement with Japanese firm Hitachi over new Wylfa plant, Guardian,  Adam Vaughan, 3 June 18, 

The UK will take a £5bn-plus stake in a new nuclear power station in Wales in a striking reversal of decades-long government policy ruling out direct investment in nuclear projects.

Ministers said they had reached an initial agreement with the Japanese conglomerate Hitachi to back the Wylfa plant but emphasised that no final decision had yet been made and negotiations were just beginning.

The business secretary, Greg Clark, announcing the Wylfa agreement in the Commons, said: “For this project the government will be considering direct investment alongside Hitachi and Japanese government agencies.”…..

the use of billions of pounds of taxpayer money will be highly controversial at a time when there is pressure to increase NHS funding and alternatives such as solar and wind power are falling in cost. ……..

Caroline Lucas, the co-leader of the Green party, said: “Taking a stake in this nuclear monstrosity would see taxpayers locked into the project and paying out for a form of electricity generation that’s not fit for the future.”

Greenpeace attacked what it called a “bailout” of the project and accused Clark of being coy about what Hitachi had been offered.


June 6, 2018 - Posted by | politics, UK

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