isn’t starmer already doing that for great british energy?
Altruistic-Bat-9070 on
The cost of doing this is huge though, so this will be interesting if they are going to borrow like mental whilst bond markets etc already arent our friend
doublejay1999 on
some will pipe up about bond markets in a minute and I’ll be quite cross.
Economy_Seat_7250 on
They all say shit like this until they get in, then the crippling reality of the public finances forces them to into inertia.
HorrorAd1613 on
labour politicians are famously competent, so putting them in charge of water and energy provision is going to go great
JB_UK on
There’s currently £40-50bn a year of mostly private money going to the energy transition, if that’s going to be public money instead then how are we going to pay for it? To say nothing of all the existing assets, either in water or energy.
He says “under public control”, not public ownership, but energy already has a price cap, the renewable plants are already operating under CfD contracts set by government. Energy is almost completely controlled by the regulatory bodies, water less so.
I guess this boils down to increasing the power of Ofwat and Ofgem.
Much-Calligrapher on
Oh FFS. I had high hopes that Burnham would follow the Manchester programme to target growth and display some pragmatism.
Instead he wants to pursue ideological projects for fringe party factions that will place greater faith in bond markets to finance the country.
The reasons we have expensive energy are nothing to do with public vs private ownership.
Focus on what delivers outcomes for the citizens, not what appeals to nobody Labour party members.
8 Comments
[deleted]
isn’t starmer already doing that for great british energy?
The cost of doing this is huge though, so this will be interesting if they are going to borrow like mental whilst bond markets etc already arent our friend
some will pipe up about bond markets in a minute and I’ll be quite cross.
They all say shit like this until they get in, then the crippling reality of the public finances forces them to into inertia.
labour politicians are famously competent, so putting them in charge of water and energy provision is going to go great
There’s currently £40-50bn a year of mostly private money going to the energy transition, if that’s going to be public money instead then how are we going to pay for it? To say nothing of all the existing assets, either in water or energy.
He says “under public control”, not public ownership, but energy already has a price cap, the renewable plants are already operating under CfD contracts set by government. Energy is almost completely controlled by the regulatory bodies, water less so.
I guess this boils down to increasing the power of Ofwat and Ofgem.
Oh FFS. I had high hopes that Burnham would follow the Manchester programme to target growth and display some pragmatism.
Instead he wants to pursue ideological projects for fringe party factions that will place greater faith in bond markets to finance the country.
The reasons we have expensive energy are nothing to do with public vs private ownership.
Focus on what delivers outcomes for the citizens, not what appeals to nobody Labour party members.