Is Forgemasters business plan so weak that no private funding is available for the loan?
Letter from Dr David Lowry:-
Tax bail-out for nuclear unjust
Tuesday 22 June 2010 Printable Email I agree with your editorial (M Star June 17) that Deputy Prime Minister Nick Clegg's justification - that there simply isn't the money - for cancelling the £80 million soft loan to Sheffield Forgemasters to retool so it can manufacture major parts for new nuclear reactors is "pathetic."
But the decision, in my judgement, was correct.
It was also consistent with both the policy of the coalition Con-Dem government and the commercial nuclear industry.
A better and more accurate justification was given on June 17 by Lib Dem Chief Secretary to the Treasury Danny Alexander: "As to the nuclear industry ... the coalition agreement commits us to no public subsidy for nuclear power."
Paul Spence, director of strategy and regulation at French-owned EDF Energy - who want to build new nuclear plants in Britain, as do German-owned Eon - stated: "We have not asked for subsidy for new nuclear in the UK. We believe it can be delivered without subsidy, in line with the coalition government agreement."
In fact the civil nuclear industry already receives hundreds of millions of pounds in taxpayer-funded subsidies.
Indeed, it was revealed on the same day as the Sheffield Forgemasters announcement that the International Atomic Energy Agency, which mainly acts as a cheerleader for the private-sector nuclear industry, received contributions from British taxpayers over the last 10 years of £97 and £57m.
If Sheffield Forgemasters is so important to EDF and Eon to build new nuclear power plants in Britain, why don't they use their massive annual profits to assist the Sheffield company and not pretend they don't need subsidies?
Targeted industrial intervention in the weaker sectors of the British economy is going to be essential to a sustainable economic recovery.
But assisting the self-confessed self-sufficient nuclear industry is an entirely unsustainable and unjustifiable use of taxes.
David Lowry
Stoneleigh
Wednesday 23 June 2010
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There are other sources of nuclear power!
ReplyDeleteI have recently been introduced to Thorium….. Thanks to similar radioactive properties to the uranium used to power the world’s nuclear reactors – and its by product, plutonium, used in nuclear weapons – thorium can also be used to power a controlled nuclear reaction that heats water, producing steam to power turbines that produce large quantities of electricity.
PLUS POINT: From an environmental perspective, the good news about thorium is that it’s far less radioactively damaging than uranium: its naturally occurring form, monazite, is said to be reasonably safe for human exposure, while the waste products from its use in a nuclear reactor decay remain dangerous for only a fraction as long – decades instead of thousands of years, by some accounts.
So Uranium and Plutonium can take thousands of years to decay safely, but Thorium does it in just a few decades?
Read on............. http://just-me-in-t.blogspot.com/2010/06/nuclear-terror-nightmares-are-made-of.html