No. 10 refuses to deny that subsidy for nuclear power has broken Coalition Agreement

The PM's spokesman merely says that the agreement on a new nuclear power station is "a very important announcement".

The Coalition Agreement was unambiguous on the question of public subsidy for new nuclear power stations: there would be none. It stated:

Liberal Democrats have long opposed any new nuclear construction. Conservatives, by contrast, are committed to allowing the replacement of existing nuclear power stations provided that they are subject to the normal planning process for major projects (under a new National Planning Statement), and also provided that they receive no public subsidy.

But this pledge is flatly contradicted by today's deal on a new plant in Hinkley, which guarantees the French-owned EDF and Chinese state investors a strike price of £92.50 per MegaWatt Hour, nearly twice the current market rate for wholesale energy, over a 35-year period.

When I put this point to the Prime Minister's spokesman at this morning's Lobby briefing, he replied:

Today is a very important announcement, it's around, as he [David Cameron] described it, long-term planning for our economy, for energy security, actually for jobs as well, there are 25,000 jobs associated with today's announcement, and we need this broad energy market and that's why today's announcement is a very important one.

I replied that this was an explantion of why the investment was needed, not of why the position had changed, and he said:

I actually think that the position around the need for energy security, the need for more competition in the market, that has been the government's policy and you're seeing a very important announcement today in regard to that.

So No. 10 is refusing that deny that the coalition has broken its 2010 pledge on public subsidy, simply because it cannot credibly do so. Should wholesale prices fall or rise at a slower rate than expected, it is the public who will pick up the tab in the form of higher bills (which are expected to rise by around £8 as a result of today's agreement) or higher taxes.

But if it is remarkable that the Tories, who dismiss a two-year energy price freeze as "socialism", are willing to guarantee foreign state-owned companies prices for 35 years, it is even more remarkable that the Lib Dems have gone from opposing any new nuclear power stations to supporting a multibillion subsidy for them.

Energy Secretary Ed Davey and David Cameron examine site plans for Hinkly C nuclear power station at Hinkley Point. Photograph: Getty Images.

George Eaton is political editor of the New Statesman.

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“Trembling, shaking / Oh, my heart is aching”: the EU out campaign song will give you chills

But not in a good way.

You know the story. Some old guys with vague dreams of empire want Britain to leave the European Union. They’ve been kicking up such a big fuss over the past few years that the government is letting the public decide.

And what is it that sways a largely politically indifferent electorate? Strikes hope in their hearts for a mildly less bureaucratic yet dangerously human rights-free future? An anthem, of course!

Originally by Carly You’re so Vain Simon, this is the song the Leave.EU campaign (Nigel Farage’s chosen group) has chosen. It is performed by the singer Antonia Suñer, for whom freedom from the technofederalists couldn’t come any suñer.

Here are the lyrics, of which your mole has done a close reading. But essentially it’s just nature imagery with fascist undertones and some heartburn.

"Let the river run

"Let all the dreamers

"Wake the nation.

"Come, the new Jerusalem."

Don’t use a river metaphor in anything political, unless you actively want to evoke Enoch Powell. Also, Jerusalem? That’s a bit... strong, isn’t it? Heavy connotations of being a little bit too Englandy.

"Silver cities rise,

"The morning lights,

"The streets that meet them,

"And sirens call them on

"With a song."

Sirens and streets. Doesn’t sound like a wholly un-authoritarian view of the UK’s EU-free future to me.

"It’s asking for the taking,

"Trembling, shaking,

"Oh, my heart is aching."

A reference to the elderly nature of many of the UK’s eurosceptics, perhaps?

"We’re coming to the edge,

"Running on the water,

"Coming through the fog,

"Your sons and daughters."

I feel like this is something to do with the hosepipe ban.

"We the great and small,

"Stand on a star,

"And blaze a trail of desire,

"Through the dark’ning dawn."

Everyone will have to speak this kind of English in the new Jerusalem, m'lady, oft with shorten’d words which will leave you feeling cringéd.

"It’s asking for the taking.

"Come run with me now,

"The sky is the colour of blue,

"You’ve never even seen,

"In the eyes of your lover."

I think this means: no one has ever loved anyone with the same colour eyes as the EU flag.

I'm a mole, innit.