Nuclear Subsidies

Our political unit has been trawling through the fine print of this morning's nuclear White Paper. Here's their initial analysis, outlining some of the more subtle ways the government has understated the real risks to the taxpayer and the lack of clarity on economics:

• The White Paper shows how nuclear companies will be able to cap their liabilities, leaving the tax payer exposed if estimates for dealing with waste change.
• It openly admits the government will have to provide extra money if cost estimates are wrong.
• It uses questionable financial estimates to build the nuclear economic case.

See all updates about nuclear power.

Now here's a surprise: the government was being 'economic' with the truth when it promised that we, the taxpayers, wouldn't have to foot the extortionate bill for new nuclear power.

It turns out that we, the consumers, will be picking up our fair share.

Yep, the day after the papers reported a 15 per cent energy price hike, we're being told to brace ourselves for more hikes if the government succeeds in dragging us down the nuclear road.