The UK Labour Government, with just 18% electoral support, begins nationalization buys the electricity system operations of National Grid plc for £630 million - (funded with taxes, next higher prices)
From here:
POLL OF THE DAY: Do you trust Ed Miliband with Britain's electricity network? - VOTE NOW (msn.com)
Maybe my settings are off (ad blocker?) but I could not locate the vote button!
From the article:
“The Government has acquired the National Grid’s electricity system operations unit, which is the division tasked with keeping the country’s lights on and balancing supply with demand. The National Energy System Operator (Neso) will oversee planning for the UK’s gas system from next month, once it falls into public ownership. The cost of the deal will be initially met by the taxpayer but will be largely recouped via charges on energy bills.”
So, first an increase in the fiscal deficit, then rising inflation, then rising unemployment – always loyal to the mantra of socialism and Marxism – tax and spend until the economy collapses under the weight of interest on mountains of debt.
As a reminder, despite the “spin” that the new UK government of a 22 billion “black hole”, the real size of that black hole is stated by Brave as:
“The OBR forecasts a deficit of £114.1 billion for 2024/2025, which is equivalent to 4.2% of GDP. This represents a slight increase from the previous year’s deficit, which was 4.1% of GDP.”
That is before the upcoming “brutal budget” that will pile on more taxes and more spending. Recall that the socialist Labour government has pledged to build an extra 150,000 new homes a year for five years which alone – assuming an average price of £300,000 will cost £45-50 billion a year for each of the next five years – total 200 billion pounds (and will require masses of immigrant labour whilst building o lad of dubious quality!).
These houses are NOT for brits, they are for the around 2 million criminal immigrants.
From here:
UK government debt highest since 1962 - BBC News
The BBC, as is its custom, does not state the detail – the amount of debt.
From here: United Kingdom Debt Clock: British National Debt Grow By The Second - Commodity.com the amount of public debt is 2.7 trillion pounds, compared to UK GDP nominal 2024 of around 2.3-2.4 trillion - making debt to GDP close to 120%. Conventional public debt ratios of over 90% are generally held to cause lower possible economic growth (Rehardt and Rogoff - Growth in a Time of Debt - Wikipedia).
\So, the complete and utter buffoon – the Marxist Milliband, - has taken another step to further impoverish the UK. He has already chosen to kill 4,000 elderly people EVERY YEAR by withdrawing assistance with winter heating = to “free up” 1.5 billion for offshore wind and other pet projects - and has ensured that the UK households will pay FORTY TO FIFYU TIMES the raw material costs of natural gas compared to the raw material costs of offshore wind.
There are no umbers on the efficiency of wind turbines – but we know that “fossil fuel” energy is required I case the wind doesn’t blow enough or the sun doesn’t shine. Ask a Brit how sunny the UK has been for the last two years. I counted a handful of hot, sunny days I each of the last two summers. Of course, there is a deafening silence from all the chicken littles about this. Fossil fuel generation has to “flare off” all the unused electricity as they “stand-by” I case renewables fail to provide sufficient electricity. Factor in the millions of gallons of lubricating oils that are needed to keep the blades of the wind turbines from seizing up.
So sad. The UK has many decades of cheap natural gas available to it, instead the socialist/Marist/Cult of Moloch will keep people living in a world of excited misery.
The socialists think that people work for them – rather than the complete opposite.
Onwards!!!
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Seeing as how they've bought this with taxpayer money, the system now belongs to the people - shouldn't they all this for free/no electricity bills?
No one in this new government have an inkling how to generate growth… milking the cow without growing the grass… it never works… you gotta feed the crop that feeds supply… Starmer maybe a whizz at legalise.. but he is a dunce when it comes to policy.