On 7 February, the British Government (Treasury) released 754 page document – excitingly entitled “Central Government Supply Estimates 2017-18” – detailing changes to planned public expenditure since last Autumn’s Budget 2017. At pages 162-64 you can find the Business, Energy and Industrial Strategy (BEIS) extra expenditure requests and clarification of perceived liabilities. These include several covering the privately-owned commercial nuclear industry sector. Below are the sections on nuclear, and the most common read-out message is how often the liabilities for which the taxpayer is expected to take long term financial responsibility are described as “unquantifiable.” That is accurate, but what is omitted is the numbers are – based on accumulated experience to date, likely to be astronomically huge. This worryingly unacceptable situation,- whereby one industry (nuclear) of the electricity generating sector is being promised a massive future bailout from its liabilities- really should be examined in detail by our elected Parliamentarians and peers in several relevant committees and in the Estimates Debate on the floor of the Commons.
David Lowry’s Blog 9th Feb 2018 read more »