[image credit: latinoamericarenovable.com]
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.
Tallbloke's Talkshop 
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.
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.
obviously a graduate of the P.T. Barnum Clown College of Investing
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.
“Use profits from green infrastructure projects to create a new fund for climate action.”
He means, there will be no such fund.
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.
I can get green and wealth in the same sentence.
“If you go green you will lose all your wealth.”
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.
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.
Cognitive dissonance, aka doublethink.
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.
Further more, as John Redwood put in his diary back in 2013, Ed Davy proved himself to be an arithmetic dunce.
From https://johnredwoodsdiary.com/2013/11/16/hs2-arithmetic/
[my bold –For the section that is just as relevant now as when John Redwood originally wrote it.]
All these green dreamers have to do is make sure they’ve left the political scene before the wheels come off their schemes.
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 ..to fund more biz which take £5,000mn in subsidies etc.
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’
https://www.dailymail.co.uk/news/article-9400979/Ed-Miliband-declares-UK-needs-electric-car-revolution-admitting-DOESNT-one.html