Seven global electricity and nuclear technology companies are threatening today to withdraw plans for hundreds of millions of pounds of future investment in Britain because of attempts by George Osborne to water down the Government’s green commitments.
Siemens, the engineering giant, Alstom UK, the infrastructure and energy company, Mitsubishi Power Systems and four other companies, which together employ 17,500 people in the British energy sector, say that a lack of decision-making and threats to relax key targets “have caused us to reassess the level of political risk in the UK”. This could cost tens of thousands of new jobs.
The companies, which also include Areva, Doosan, Gamesa and Vestas, say in the letter copied to the Prime Minister that they are planning “significant further investment”