Why Tim Yeo is Really Upset About Green Cuts

Guido’s old adversary Tim Yeo has been flying the green flag once again this morning, laying into George Osborne for failing to back renewable energy. Yeo sided with Energy Secretary Ed Davey in his dispute with the Treasury: “They are working particularly to target some Conservative backbenchers, pursuing a policy designed to prove that they are not going to get into so-called costly green initiatives. It is extraordinary.”

Rather more extraordinary is the vast amount of money Tim rakes in from his personal investments in green companies. In the past twelve months Yeo has made over £60k as chairman of TMO Renewables, a company which develops and supplies technology for second generation biofuels. He is also chair of AFC Energy, an alkaline fuel cell technology that pays him over £50k per year. Guido has visited this before:

Given that Yeo makes over £100,000 each year from private green investments, using his role  to lobby on behalf of the industry for subsidies represents a serious conflict of interest. This is the Chairman of the Energy Select Committee.  Replace the words “green” with “oil”…




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Quote of the Day

Dominic Raab wrote in his letter of resignation…

“This is, at its heart, a matter of public trust,” he told the PM, concluding: “I cannot reconcile the terms of the proposed deal with the promises we made to the country in our manifesto at the last election… I believe that the regulatory regime proposed for Northern Ireland presents a very real threat to the integrity of the United Kingdom. I cannot support an indefinite backstop arrangement, where the EU holds a veto over our ability to exit…”

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