What has happened? The government has promised to pay tens of billions of pounds of subsidy to the Chinese and French governments to get a new nuclear reactor off the ground at Hinkley Point in Somerset. The £16bn plant will provide 7 per cent of Britain’s electricity for six decades or longer.
Really? I thought George Osborne was a fan of free markets? You could say it’s very “free market” to encourage investment into one of Britain’s most sensitive industries from almost anywhere – including Beijing. Maybe less so to pay them a guaranteed price through to the middle of the 21st century.