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Reaction to Hinkley Point decision
Commenting on the news that the government is set to approve the building of Hinkley Point, Professor Philip Booth, Academic and Research Director at the Institute of Economic Affairs said:
“Hinkley Point demonstrates the folly of “industrial strategy”. The government is backing a hugely expensive way of producing electricity on the spurious grounds that it will reduce carbon emissions, increase energy security and create jobs.
“Continual government interference in energy markets makes it more difficult for companies to plan and therefore undermines private investment. Expensive government schemes therefore substitute for more efficient private sector investment.”
Notes to editors:
To arrange an interview please contact Nerissa Chesterfield, Communications Officer: nchesterfield@iea.org.uk or 020 7799 8920
The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.
The IEA is a registered educational charity and independent of all political parties.
“Hinkley Point demonstrates the folly of “industrial strategy”. The government is backing a hugely expensive way of producing electricity on the spurious grounds that it will reduce carbon emissions, increase energy security and create jobs.
“Continual government interference in energy markets makes it more difficult for companies to plan and therefore undermines private investment. Expensive government schemes therefore substitute for more efficient private sector investment.”
Notes to editors:
To arrange an interview please contact Nerissa Chesterfield, Communications Officer: nchesterfield@iea.org.uk or 020 7799 8920
The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.
The IEA is a registered educational charity and independent of all political parties.
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