So, we’re handing billions to France and China to build something we used to build ourselves, then guaranteeing them a huge profit on the deal for 35 years. We will pick up the tab.
Three thoughts on this: hasn’t privatisation worked well eh? (answer = no). What has happened to the Tory’s free market principles? Why are nuclear energy subsidies (because that’s what this is) a good thing, but renewable energy subsidies a bad thing?
In the bad old days, the government would have told the CEGB, "build the damn thing" and being the single most efficient organisation in Britain, they would have.
Moreover, it would have worked and not caused a meltdown like Fukishima.
I asked a Tory apologist "What’s the difference between a guaranteed price and a subsidy?" Ten minutes of bluster later – "There isn’t an intrinsic difference, but governments don’t have to pay for the guaranteed price…" Who does then? "Ummmm, the consumer." You mean "us" then?
What it comes down to is: "the profit incentive" is nothing but a spin on the fact that WE have to pay extra. That’s all profit is – US having to pay extra. The same as "efficiency" is US getting paid less. The bottom line of privatised industries is ordinary people paying more for less and the workers in the industries getting paid less for their labour.