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1/3 If this Labour MP had read our energy policy before joining Tory attacks on it, he'd know that 1) valuation (cost) will be decided by parliament, 2) payment will be by govt bonds (not taxes) & 3) the current rip-off is not a good use of anyone's money.
2/3 A delay in reversing the privatisation rip-off only adds to it.
National Grid's annual results published today show it made a £3.4bn profit in 2018-19. But it cut investment in the UK by 7%, while increasing it in the US. It's paid nearly £6bn in dividends in the last 2yrs.
National Grid's annual results published today show it made a £3.4bn profit in 2018-19. But it cut investment in the UK by 7%, while increasing it in the US. It's paid nearly £6bn in dividends in the last 2yrs.
3/3 Jones is, perhaps not surprisingly, echoing Chuka Umunna's attack on Labour's public ownership plans. Both reveal their ignorance of the precedent that Welsh Water became a not-for-profit through a bond issue of the kind Labour is now proposing. See: steve-howell.com/you-cant-have-…
