Government Boasts About “Climate Investment”, BEIS Won’t Reveal Actual Costs

Government Boasts About “Climate Investment”, BEIS Won’t Reveal Actual Costs Government Boasts About “Climate Investment”, BEIS Won’t Reveal Actual Costs

Following the UN’s latest doomsday climate report, Boris Johnson and Business Secretary Kwasi Kwarteng hurriedly re-announced investment into the UK’s wind farm industry. Part of that announcement included the creation of 1,340 new jobs at Siemens Gamesa and GRI who are investing £186 million and £78 million respectively to expand.

In a press release sent yesterday BEIS said the companies are receiving funding from the government’s £160 million offshore wind manufacturing investment pot. However, BEIS are being incredibly tight-lipped about exactly how much of taxpayers’ money is being used to subsidise these new green jobs. The press release mentions a £95 million grant from the fund to bring up the port to scratch for the firms, though it doesn’t say how much of this is for the two companies. Incredibly odd that BEIS are being so hush hush about the exact figures of an investment they spent most of yesterday bragging about…

Given this financial secrecy* about the spending of public money Guido has calculated using the full £160 million the government boasts is in the fund could be subsidising by up to £119,402 each of the 1,340 new jobs created. That means to create just one of these green jobs would require the entire annual income tax paid by 34 average income earners – some 45,000 workers will toil for a year to pay for the creation of just over a thousand jobs. That of course doesn’t take into account the fact that this project will end up producing electricity at a loss that will have to be subsidised by higher energy bills for households. The green agenda is hitting the taxpayer from all directions… 

*If BEIS want to tell us the actual figure we will happily recalculate the job subsidy.



* This article was originally published by Guido Fawkes

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