Labour Basing Energy Policy on Bust Company Currently Suing French Government mdi-fullscreen

Sir Keir has just announced Labour’s plan to create a taxpayer-funded “Great British Energy” company. Already they’re briefing out how they aim to see it eventually grow to the size of France’s EDF. According to Beth Rigby, a Labour source claims

“The hope is it will eventually be an EDF… When oil & gas discovered in North Sea it thru private companies & Tories spend profits on tax cuts. Norway set up a sovereign wealth find for oil & gas. This a new generation of energy & we want Brits to take a cut… [The Tories’] plan fails to account for need to deliver clean power. We have a fossils fuel crisis and they double down. Renewables are 9x cheaper & investing in them the way to get proper energy independence & lower bills”

Someone needs to remind Sir Keir that EDF are currently suing the French government – i.e. French taxpayers – for the small sum of €8.4 billion for being forced to sell their energy at a loss. EDF predict the total losses for the year could reach as high as €15 billion, which will have to be picked up by taxpayers because EDF is being nationalised. Meanwhile over in the US, back in 2009 a solar cell company called Solyndra took in $535 million courtesy of the taxpayer, only to later collapse. It should not be the job of government – using your money – to keep throwing money into green schemes, hoping to back a winner… 

Hat-tip: Matthew Lesh

mdi-tag-outline EDF Labour Conference Labour Party
mdi-account-multiple-outline Beth Rigby Keir Starmer
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