Lib Dem leader puts ‘green’ and ‘wealth’ in same sentence at party conference

Posted: March 21, 2021 by oldbrew in Big Green, Energy, Politics, Subsidies
Tags: ,

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How things that need constant subsidies could generate wealth is known only to frequent visitors to Cloud Cuckoo Land. Has this former ‘green energy’ lobbyist never heard of Ponzi schemes? Suffice to say they tend to end badly for the ‘investors’, at least the ones who stay in too long.
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The Liberal Democrats want the government to use profits from green infrastructure projects to create a new fund for climate action and green jobs, reports BBC News.

Leader Sir Ed Davey put forward his “sovereign green wealth fund” proposal at his party’s spring conference.

He said the government raised £9bn last month from auctions to build wind farms on the coasts of England and Wales.

Sir Ed wants money from projects like this to be invested “to grow our green wealth even further” in the UK.

The party leader told the conference: “This green wealth doesn’t belong to Rishi Sunak, or the Tories. It belongs to the British people.

“So I say, let’s invest it in a sovereign green wealth fund. Let’s invest this windfall from wind power into more climate action, to build new infrastructure and attract more private investment.”

He said by using the money to invest in green technologies – such as tidal power and hydrogen – the UK could “grow our green wealth even further” and create “thousands of manufacturing jobs”.

Full report here.

  1. oldbrew says:

    Let’s invest this windfall from wind power into more climate action

    Any ‘windfall from wind power’ should go to reducing subsidies as close to zero as possible. Anything else is just laughing in the faces of bill payers.

  2. Mack says:

    To paraphrase, ‘Let’s give hard earned taxpayer cash to my green troughing pals to produce expensive, unreliable energy that will impoverish the tax payer even further and completely trash the economy.” There, fixed it for you Ed.

  3. stpaulchuck says:

    obviously a graduate of the P.T. Barnum Clown College of Investing

  4. pochas94 says:

    An old Socialist friend of mine used to say “Keep the people employed.” But if they are not producing value, they will also stay poor, no matter how hard they work. It’s only the wealthy who will profit.

  5. Curious George says:

    “Use profits from green infrastructure projects to create a new fund for climate action.”

    He means, there will be no such fund.

  6. cognog2 says:

    Quote: “Let’s invest this Windfall from wind power into more climate action”

    How can a heavily subsidised industry produce a Windfall? Is this just Libdumb thinking?
    Best keep them out of office.

  7. Dodgy Geezer says:

    I can get green and wealth in the same sentence.

    “If you go green you will lose all your wealth.”

  8. ivan says:

    Is the idiot thinking about all the money from stopping all the subsidy and other unearned payments to those now getting them? If so I applaud such a scheme. It has to be that as there is no way there is any money coming from any ‘green’ project.

  9. Phoenix44 says:

    How stupid can you be? Any money raised from this auction will be paid to the developers by consumers. It’s not a “windfall” in any way. The people who paid the £9 billion will get it back with a return from our electricity bills. And they WILL get it back because the government will guarantee they will in one form or another, unlike say the telecom auctions. It would have been better for taxpayers to not have the £9 billion.

    They simply do not understand the very basics of what they are doing.

  10. Chaswarnertoo says:

    Cognitive dissonance, aka doublethink.

  11. tom0mason says:

    As older students and ex-students know the Liberal Democrats betrayed students by supporting the trebling of tuition fees when in coalition with the Conservatives. So why should anyone believe that the current batch of Lib-Dems and their leader Sir Ed Davey, can be any good at accountancy or managing public finances.
    Liberal Democrat party is a circus of fools, led by the imbecilic but well connected Sir Ed Davey.

  12. tom0mason says:

    Further more, as John Redwood put in his diary back in 2013, Ed Davy proved himself to be an arithmetic dunce.

    Ed Davey may be able to defend himself by saying that he is not a scientist, but that does not excuse him from his apparent inability to apply simple arithmetic to the known data; which would tell him that if he achieved what seems to be his ambition of shutting down the whole UK economy and doing everything else needed to reduce our emissions of carbon dioxide to zero, then within about eight months the Chinese alone would have restored the flow of carbon dioxide into the air, and would then continue to increase it, not to mention the other countries which are doing the same.

    Whether or not the theory that emissions of carbon dioxide into the atmosphere will lead to potentially catastrophic climate changes is correct or not, the practical reality is that nothing we could do in the UK would make any perceptible difference; closing down swathes of our economy and transferring innumerable jobs abroad to less foolish countries may seem a worthwhile gesture to the politicians in our three main parties, but simple arithmetic shows that it would be an utterly futile gesture.

    [my bold –For the section that is just as relevant now as when John Redwood originally wrote it.]

  13. oldbrew says:

    All these green dreamers have to do is make sure they’ve left the political scene before the wheels come off their schemes.

  14. stewgreen says:

    The Ed Davey-Perpetual-Motion machine
    .. Find businesses which need £10,000mn subsidies to break even
    Then over 20 years whilst grannies are feeding in the £10,000mn subsidies Davey takes out £200mn profit and feeds it into the Green wealth fund fund more biz which take £5,000mn in subsidies etc.

  15. oldbrew says:

    Meanwhile former Secretary of State for Energy and Climate Change Ed Miliband pops out of the woodwork to lecture the peasants…

    ‘Practise what you preach!’: Awkward moment Ed Miliband declares Britain needs an ‘electric car revolution’… before he’s forced to admit he DOESN’T own one’

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