Going Nuclear Against Crony Capitalism

May cc

This is encouraging to see from Prime Minister May. She might just halt a massive crony energy deal previously supported by both the Conservatives and Labour. Not to mention the governments of China and France.

The project was to be subsidized by Britain’s taxpayers.

(From The Washington Examiner)

In one of her first actions as prime minister, May demonstrated that she deserved to win. Upon taking office, she announced that she might halt a major project supported by the Cameron government: a $23 billion nuclear-power project to be built along England’s southwest coast.

It’s hard to overstate how important this project, Hinkley Point C, is to Britain’s political class…

…But Hinkley Point has – or had – a fatal flaw: its chief owners are the French and Chinese governments. Électricité de France (EdF), owned by the French state, would build and operate the project. EdF’s partner is China General Nuclear Power, a state firm.

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