Budget: what a damp squib GB Energy is
Fireworks night coming, and £125 million is all the Budget can muster for GB Energy in ’25-26. What a pathetic little squib. £100m for a handful of lame investments and £25m for setting up an office in Aberdeen.
I’m warming to the Tory energy woman Claire Coutinho (MP), who is showing signs of becoming a good Opposition tactician. A year ago she was the newly minted energy secretary at DESNZ, which represented meteoric promotion for a very new MP. But she had no time to make a mark, really, because by then it was a lame duck administration. Since the election, she’s laid down two clever markers that I’ve noticed: the first was coming out against Drax - which is Good Politics. (She never liked it, unlike the moronic Shapps, her predecessor at DESNZ). Drax is going down, and will take Miliband’s 2030 decarb target with it, hoho. And aside from those who benefit from the employment it provides – fair enough – nobody likes it.
Next, she put down a clever amendment to the GB Energy Bill, seeking to commit GBE to fulfilling the Lab manifesto promise of lowering everyone’s electricity bills – £300 p.a. reductions for residential customers was the final manifesto offer (having been a pre-manifesto promise of a completely, transparently ludicrous £1,400 p.a. reduction before the immediate run-up to the GE). Even that £300 ain’t gonna happen. So not only has Miliband carefully stopped talking about it, he whipped Labour MPs to vote against CC’s motion. Trivial stuff, but adding another twig to the birch with which to flog Labour.
Open thread – your views on the Budget
ND
Source: http://www.cityunslicker.co.uk/2024/10/budget-what-damp-squib-gb-energy-is.html
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