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British energy given 410 million loan
9 September 2002
British Energy has been given a £410 million loan by the British Government.
Commenting, Bryony Worthington, nuclear campaigner at Friends of the Earth said:
“It’s outrageous. The Government should have allowed British Energy to go into administration rather than bailing it out with a loan. With a market value of just £404 million and existing debts of around £850 million no commercial lender would have lent this incompetent company any more money. Yet we the taxpayers are being asked to carry the risk.”
“This financial fiasco must force the Government to realise the folly of building new nuclear power stations. They are uneconomic, unsafe and deeply unpopular and are not needed to combat climate change. Nuclear power should be phased out and replaced with clean, safe and renewable forms of energy.”
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Published by Friends of the Earth Trust
Last modified: Jun 2008
