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BRITISH ENERGY: TAXPAYERS TO BAIL OUT NUCLEAR LIABILITIES - BRUCE

December 1, 2003 12:00 AM

Commenting on Patricia Hewitt's confirmation of the increase of £75 million in the Credit Facility to British Energy in a written statement released today, Malcolm Bruce MP, Liberal Democrat Shadow DTI Secretary, said:

"The taxpayer should not bail out the shareholders of a company that took the risk of investing in a technology that has long proved itself a guaranteed loss maker in a market economy.

"The DTI has already spent over £7billion in the last 5 years managing nuclear liabilities. This year's Energy Bill will have the biggest money resolution parliament has ever seen to fund future nuclear decommissioning."