Tessa Munt MP seeks comment on Severn Barrage proposals....
Here
My comment......
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".....Actually, I thought the Select Committee report was pretty unequivocal ....
(Wiki)
"..... In June 2013 the Energy and Climate Change Select Committee published its findings after an eight month study of the arguments for and against the Barrage. MPs said the case for the barrage was unproven. They were not convinced the economic case was strong enough and said the developer, Hafren Power, had failed to answer serious environmental and economic concerns..."
I understand it has already been said that the project would destroy as many jobs as it would create.
Peter Hain has formed an All Party Parliametary Group (APPG). Promoting the interests of lobbyists, and healthy expenses for those involved. Seems a long way from Hain's younger days, fighting injustice and racism in South Africa.
The identities of those behind the the construction companies (Hafren Power) seem rather murky. My guess is one or more of hedge funds, or Asian and Arabian monies.
Hedge funds seldom really invest. They tend to look for large guaranteed cash flows. Or the opportunity to extract rather hefty dividends for shareholders. Usually fairly immediate ones.
The overwhelming likelihood is that project budget would at least double or treble. The project would only be attractive to the backers, murky or otherwise, if public money guaranteed their profits.
There are better uses for public monies.
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