Two thirds of Brits back Labour's plan for public owned green energy
Two-thirds of Brits back Labour's plan for public owned green energy, a new poll has found.
Some 66% of those polled backed the plan to launch GB Energy - a key part of Labour's plan to switch Britain to clean energy by 2030 - with just 6% opposed to the idea. The poll suggests eleven times as many people support the GB Energy proposal as oppose it.
More than half of those responding to the YouGov poll, commissioned by the think tank Common Wealth, said they thought the plan would have a positive impact on household bills (53%) and energy security (62%). And a majority of Tory voters (54%) believe the policy would have a positive impact on Britain's identity.
Mathew Lawrence, Director of Common Wealth, said: "Even Conservative voters want energy in public hands. Labour ’s GB Energy has the potential to realise those ambitions and be a clear and popular point of difference at the election. But if Keir Starmer is going to cash in on the idea’s popularity, Labour must invest with ambition as the surest route to delivering energy security and lower bills.”
A Labour spokesman said: "With Labour's ambitious £8.3billion capitalisation of Great British Energy, we will invest in clean homegrown power that will cut energy bills, create the next generation of jobs in clean industries, and make Britain energy independent."
Teachers, civil servants and train drivers walk out in biggest strike in decade
Voters were also asked whether they’d prefer Britain’s renewable energy infrastructure to be publicly or privately owned. Some 64% of those polled said they’d prefer publicly owned, with just 8% preferring it to be in private companies’ hands.
It comes after a study by Common Wealth found Labour’s green investment plan would make Britain’s transition to clean energy cheaper. The report, released on Wednesday, suggests the party's plan to create GB Energy will save up to £1bn in interest payments alone over the next five years, compared to private firms borrowing to invest in renewable energy.
The report also argues a public company’s income can be reinvested into boosting Britain’s energy independence, rather than being paid out to investors. The group’s analysis found the four biggest clean energy suppliers paid out 30p in dividends for every £1 in investment over the last five years. And further research by the Trades Union Congress found a publicly owned energy firm could return £3 to the public purse by 2040 for every £1 invested.
Chris Hayes, Chief Economist at Common Wealth said: "Energy is among the most significant costs for UK businesses and many households. With lower borrowing costs and no need to pay shareholders in perpetuity, direct investment through a publicly owned company could save customers tens of billions compared to private investment."
Read more similar news:
Comments:
comments powered by Disqus
