Energy Nationalisation?

Today sees Labour leadership contender Jeremy Corbyn come out in favour of public ownership of Britain’s large energy companies

 

 

 Source: The Independent

Today sees Labour leadership contender Jeremy Corbyn come out in favour of public ownership of Britain’s large energy companies. Corbyn’s proposals are being viewed as another plank of his far left ‘Corbynomics’ agenda. Given the political focus on the cost of energy to consumers, it is unclear whether they will find much favour with the press or the public. However, with Corbyn now seen as a serious contender for the Labour leadership, this could well spook his rivals into advocating more ideological policies. Fellow Labour leadership contender Andy Burnham is already seeking to outflank the Islington MP from the left on rail renationalisation.

Internal argument over Corbyn’s ideas also risks taking Labour further away from the most salient debates in energy policy at the moment, such as the cost of renewables, shale gas and the CMA’s inquiry into the energy market. This undoubtedly gives the Conservatives more room to manoeuvre – especially  in context of the decline of the Lib Dems. The onus may fall more onto other political parties and institutions – the SNP, the Energy and Climate Change Committee and the House of Lords – to provide scrutiny of the Government’s energy agenda. 

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