Is it time we revisit the nationalisation of electricity debate? The cost of living crisis is going to hurt the UK economically and we will be struggling for years. That's right, the impact will take years to reverse.
The world has changed following the pandemic and Ukraine / Russia.
There are reasons for and against nationalisation. It makes sense that we take urgent and bold actions that will have immediate results. Why aren't we exploring and debating our options? It feels like we are stuck. This inertia, dither and delay will cost lives, businesses and will affect everyone.
Since this blog post was written Gordon Brown, has offered his view on this crisis. The former British Prime Minister nationalisation noted nationalisation may be the solution of last resort and should not be off the table.
According to the Guardian article, Gordon Brown says energy firms unable to offer lower bills should be temporarily re-nationalised:
"the government should consider bringing into public ownership companies who could not meet that requirement, comparing it to what his government did “as a last resort” in 2009 with banks.
He said before taking that step, the government should offer guaranteed loans and equity financing but “if this fails, then, as a last resort, operate their essential services from the public sector until the crisis is over”.
You may be interested in these:
- If the UK’s energy suppliers were publicly owned, would we be having this crisis?
- National Grid to be partly nationalised to help reach net zero targets
- Fact check: would nationalised energy help UK taxpayers?
- I work for Bulb and its fate has convinced me the energy sector should be nationalised
- Sky News Press Preview Discussion on Nationalisation
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