Energy Companies Demand Government Funding

It has been reported widely that energy companies need to build new power stations, improve gas supplies and water companies must renew outdated infrastructures.

Despite record profits and price rises in all of these sectors they are demanding government aid for the 'needed' improvements.  Undoubtedly when completed these improvements will further enhance profits and shareholder bonuses.

So the government will undoubtedly fund the requested financial aid.  Hang on a moment, the government does not have any money of its own, much of it comes from the taxpayer, therefore you as a taxpayer will not only face higher energy and water bills but higher taxes to fund these companies from your money that should be spent elsewhere to benefit the nation, not corporate and shareholder greed.

Not so very long ago when a business need additional capital to improve infrastructure a shareholder rights issue would be made whereby existing shareholders would be invited to subscribe to the required funding which would be underwritten by a financial institution.  Any shortfall in the subscription would be bought by that institution.

Shareholder rights issues now seem to have been long forgotten, instead the companies which were once owned by the nation yet sold for profit now demand government funding thus imposing ever greater burdens upon the nation. 

If ever the time was right for a government to refuse such demands it surely is now and refuse to be blackmailed into submission by forcing the shareholders to dip into their pockets rather than robe the nation blind again.  Will  this happen?  Not whilst the present administration reigns and sadly improbable under any of the current viable alternatives.  There are alternatives however, re-nationalise the energy and water companies. 

To re-nationalise these behemoths, we are told, is impossible because of the unimaginable amount of money required  to compensate shareholders.  Compensate them when they have made profits from buying what once belonged to the nation, that is a further insult to the hard working men and women of a once proud and democratic country.  It is often said that when speculating then only money that can afford to potentially be lost should be used as there is always a possibility that losses as well as profits may be incurred, that possibility is the entrepreneurial risk.

No, do not compensate the greedy who both have their cake and yet have eaten it as well.  Either force a rights issue or renationalise the companies stolen from the nation by a straight takeover back into public control without compensation.  A radical step, yes, but unless a positive step is taken to halt this current demand there will be increasingly more and more ...

It is time that a stand was made against treating citizens of a once proud, democratic nation as separate Government Funding Units and cash-cows for the administration to squander and fritter away in ever more expensive fanciful schemes, the latest of these paying mothers up to £200 to breastfeed their offspring.  Make a stand for freedom, democracy, government accountability, your money and living standards now or sink further into the abyss ...