Nuclear costs will swamp UK Labour’s green energy plans

Dave Toke: It is now clear from Labour’s stance in the House of Commons,
that nuclear power comes before everything else.

Indeed, aside from Keir Starmer’s emphasis on ‘nuclear first’ attacks on the Government in
the House of Commons, Labour’s allegedly massive green energy spending
strategy seems likely to be swallowed up almost entirely by its pledge to
rush to embrace the Sizewell C development.

The Treasury knows full well that to get Sizewell C going reasonably quickly, the Government will have
to commit to a potential bill of £30 billion or more in public spending.
This must come, either or both, from hard-pressed energy consumers by
adding to their bills, or directly from Treasury coffers. The Department of
Business, Energy and Industrial Strategy’s spending plans are closely
controlled by the Treasury, and the commitment to Sizewell C will swamp the
budget and reduce Labour’s ability to spend on things like insulation and
heat pumps to a trickle.

 Chartist 6th April 2022

April 9, 2022 - Posted by Christina Macpherson | Uncategorized