This government just loves giving money away to foreign governments and companies. It is money we cannot afford, money they borrow which adds to taxpayers bills.
This time, as I warned, it is the offer of money to Jingye, the company that owns the blast furnaces ar Scunthorpe. Labour failed to nationalise them but passed legislation taking control of them to stave off closure. The furnaces were losing a fortune partly due to the UK ‘s sky high energy prices .
This meant taxpayers are paying the bills for the operating losses and stocks without making clear it took the assets unencumbered by debts for nothing. The blast furnaces were not worth anything given costs of closure or losses from running them.
The government promised to keep them open. How much will this cost taxpayers? They implied the blast furnaces would be replaced by a steel recycling works. When? How many jobs go when that happens? Will the government break its promises to the steel workers by sacking lots of them before the election? Or will it put taxes up again to pay the huge bills, meaning others lose their jobs as the higher taxes take their toll? Why pay any compensation to the owners when it costs so much to run the plant, saving the owners the closure costs.
March 9, 2026
as the weatherspoons magazine makes clear pubs are charged extra for electricity to cross subsidise what is left of our steel industry. its all the state manipulation that is the problem.
March 9, 2026
Soon we will be the only country not able to produce primary steel. This is of course the plan by the eco nuts in Westminster. The world is a very dangerous place and we are being de hanged at an alarming rate.
Even government funded projects allow steel to be imported especially the new CCS white elephant being built.
You could be forgiven for thinking bankrupting industry was the plan.
March 9, 2026
Today wind is supplying 4gw and solar zero. Gas and nuclear 61%. Yesterday we were Importing 22% of our electricity at £154 per mwh. Milibrain says renewables will give us energy security. The man’s barking.
March 9, 2026
But (unfortunately) still there… 🙁
March 9, 2026
@ Ian Wragg
More rubbish.
Based on data from 2024-2026, typical import prices are often determined by market conditions in connected countries, with peak temporary prices on NordPool hitting around £979/MWh in 2025
A significant volume of imports occurs when prices are high, often in the £95-£150/MWh range, though many transactions have occurred lower
Conversely, high renewable output in Europe frequently results in negative prices, where the UK is paid to take electricity
Due to the lack of gas storage here the UK has imported record amounts of power this winter, with total monthly spending around £250 million in December 2025. The total value of the electricity produced in this country in 2023 – from all sources – was nearly £172bn. £250m is about 0.15% or roughly 7p a month
Do try and keep up with the facts about Britain’s energy supply
March 9, 2026
We have the highest electricity prices in the world due to net zero policies you support. Own it.
March 9, 2026
You make Philip II of Spain look reasonable. He is infamous for his wooden headedness. No matter what the evidence, he refused or could not change his mind.
March 9, 2026
Of course, we could also frack our own gas SG or (if you prefer) just go back to coal…?
March 9, 2026
I see maths aren’t your strong point as we imported £3.5 billion in electricity last year which equates to over 2%. As this is mainly over the winter perio, November to March it accounts for over 10,%.
This according to NESO is due to double in the next few years. Yesterday we imported 22% of our electricity.
March 10, 2026
SG:
The figures for imports and exports of electricity over the interconnectors for 2024 show the average cost of imports to be £69/MWhr and exports £21/MWhr. Note BTW that the operating CfD for offshore wind (weighted by installed capacity) is £149/MWhr. So any excess wind exported is sold at a huge loss.
March 9, 2026
Hard to beleive Ed Miliband is so stupid & deluded as to think his energy agenda is remotely sane! So does he really “believe” in this mad religion or has he got some other ulterior motive? He is not particularly daft – true he read PPE Oxon but he got As in English & Maths a B in Further Mathematics, and B in Physics which is not too bad and from an ordinary school. There were no A* s at the time!
Rather brighter than most of this appalling government! Then again Denis Healey got a double first in Greats & yet he though 98% income tax was a good plan!
March 9, 2026
Indeed rigged markets all over the place energy, transport, broadcasting, schools, universities, EV cars, heat pumps, banking, employment, farming, the self employed, healthcare…
March 9, 2026
Interesting to read the Shipman article on the use of UK bases rebellion against Starmer. Mogg has a good videos on it.
The National Security Council a United Kingdom cabinet committee seems to have eight full members five law graduates and three who read PPE or politics. No engineers, no scientist, no people with any military, logistic, weapons, aircraft, tank, missile or managements skills… what could go wrong with Two Tier Keir, Brain of Britain Lammy, John Healey, Doom loop Reeves, Cooper Balls, Lord Hermer , Darren Jones, Mahmood…
March 9, 2026
You missed out Miliband who apparently lead the opposition to USA. I guess a massive spike in energy prices suits him just fine as CO2 emissions will reduce when the lights go out.
March 9, 2026
Jingye …. a Chinese company. Project Kow-Tow is still in operation, as it has been since Cameron/Osborne started it.
Two-Tier will do nothing to upset his Chinese Masters.
March 9, 2026
Seems so.
March 9, 2026
Government spending is misdirected in all areas. Look at the absolute shambles of our military response to Iran with a solitary navy ship not being sent to Cyprus until several weeks after it is needed and yet the MoD employs 57,000 civil servants.
March 9, 2026
Any costs associated with keeping the Scunthorpe blast furnaces operational pale into insignificance, when compared to the £billions and £billions paid out in dividends each year to the foreigner-owned shareholders of the nationalised industries
March 9, 2026
Not so much of the “Foreigner-owned” SG – those shares are in my pension pot too!
March 9, 2026
They should just burn coal and open that nice coal mine in Cumbria. So much better more flexible and more efficient than using electric ones. Especially with local coal. Local jobs and taxes two.
The proposed Woodhouse Colliery coking coal mine in Cumbria, led by West Cumbria Mining, was abandoned in April 2025 after planning permission was idiotically quashed by the high court in 2024. Similar types of judges to the six who denies Lucy Letby an appeal twice I assume!
March 9, 2026
Paid from profits. These are financially viable undertakings. That’s the difference.
March 9, 2026
The Ayatollahs and their IRGC have succeeded in closing the Straits of Hormuz to shipping. About 35% of the world’s oil and gas passed through the Straits last year
Never mind the stonking increases in fuel costs at the pumps to be expected as oil hit $100 a barrel last night, those inexplicably still driving ICE cars had better prepare for petrol/diesel rationing
March 9, 2026
Good argument for not allowing a medieval, theocratic cult to have effective control over an international waterway. Or indeed ANY weapons more sophisticated than a sharp knife!
March 9, 2026
I worry far less about petrol rationing SG and much more about my lights going out.
We rely on gas imports to backup our windmills for the 60% of the time they are not working.
Fortunately, we are moving into Spring and it’s warmong up, otherwise I’d be out shopping for more solid fuel for the fireplace.
New Zero – our route back to the Stone Age!
March 9, 2026
Modern LED lighing can use very little electricity indeed. So long as you are not heating/cooking or charging a car with electricity (or mining cripto currencies) you can use very little electricity indeed. Just fridge/freezer, boiler pump, tv, wifi, computer, lighting… not much needed at all. You can also use very little fresh water if you use grey water to flush the loos.
Any only only bath once a month – whether needed or not!
March 10, 2026
Correct. For several days, around 25% of our electricity has come from “our continental friends” because the occasionally semi-useful windmills have “under-performed” and due to lack of sun, the solar panels have been producing diddly squat.
When our continental neighbours are unable to generate sufficient energy, the first thing they will do is cut the feed to the UK.
March 9, 2026
Well they might have to take longer routes for a (hopefully fairly short) period but it will surely be a cost worth paying in the long run!
Coal is still very cheap if we get desperate plus we can frack and drill here once Miliband goes. It is reported that Miliband led the battle against Starmer that made him take the idiotic decision to refuse use of UK bases to the USA. I assume Miliband is a bit cross at Trump for correctly pointing out that Net Zero lunacy and a dangerous con trick. The real question is does Miliband actually realise this and is lying or is he as daft as a deluded brush and has fallen for this lunacy?
March 9, 2026
Guess we will all end up suffering when the wind does not blow at night then
No lorries on the road for food deliveries and other essentials either I guess.
Very few buses running, no diesel trains.
Beware what you wish for, just to make a cheap point.
March 9, 2026
SG
Over a third of our electricity is generated from fossil fuels.
At time of writing (Monday moring 10.45) 46% of UK electricity is coming from fossil fuels.
So EV vehicles will be affected by rising oil prices.
March 9, 2026
Either way, my journey to work by bicycle won’t be affected.
Bicycle – the true green option, EVs are greenwash.
March 10, 2026
Well not really they a fuelled by human food. Steak, chips and a bottle of claret is not a very efficient fuel to manufacture and convert to motion. If you look at the whole process from farm to motion two cyclist are far worse than one small car. Plus they prob. need a hot shower on arrival. Walking is even less efficient.
March 9, 2026
Of our total energy need only about 8% of out total enegy (including transport, heating, industry… comes from Wind and Solar in total and even this ignores the fact that fosil fuel plant run less efficiently as they have to provide back up and the vast costs and energy used to conneting them all up.
In short they are almost irrelevant.
March 9, 2026
Funnily enough a few ships did barge through because Iran lost and have no ships, no aircraft and hardly any launchers.
It is Lloyds who will not insure the ships in the region that has stopped the flow.
Small price to pay for removing the world’s most vile regime from existence and for the peace in the Middle East that is now possible, even probably.
We surely don’t need to rehearse JRs mantra that pumping our own oil and gas from our storage facility under the North Sea would lead to a bonanza. We would be speaking of a Sovereign Wealth fund instead of bankruptcy and destitution.
March 9, 2026
@SG. Yes, they have reacted to being attacked by the world’s most powerful armed force, which killed their spiritual leader while negotiating a deal. The US leader has told them he will force regime change by massive bombardment, and will only accept unconditional surrender.
What would we expect them to do?
They seem to be putting up a remarkably sane resistance, for “mad” mullahs. They targeted an oil pipeline in Azerbaijan, too. It supplies 30%-40% of Israel’s oil. Sensible targeting. Closing the Straight of Hormuz puts international and domestic pressure on Trump. Sensible strategy.
We have no idea where this will end.
March 9, 2026
This (and much of government spending) is a classic example of how easy it is to spend other people’s money.
Too many of the electorate are subsidised which means that the contributors will always be outvoted or not considered when decisions about their money are taken.
March 9, 2026
indeed not only to spend it but very often spend it doing huge net damage as we say with Covid Lockdowns and Covid net harm “vaccines” and on net zero and rigging markets!
Mogg has a video Why the Green are so dangerous?
He describes Caroline Lucas (ex leader, Malvern College then English at Exeter) as serious minded, worthy, earnest, intellectual… well perhaps – she seems pleasant enough but she clearly knows nothing virtually about energy realities, energy engineering, physics, maths, climate, CO2… she is/was as deluded as May and Miliband and all the fools who voted for Miliband’s moronic climate change act and nodded May’s even more moronic Net Zero through.
But Zak Polanski is clearly even more deluded and dangerous. So is Caroline Lucas still happy to remain a member of his even more dangerous “Green surely anti-Semitic, open borders, houses and living wages for illegal migrants and Drugs for everyone” party? Or is this now a bit too much for her?
March 9, 2026
Caroline Lucas is a no borders extremist. That is incompatible with environmentalism. Nothing serious or intellectual about her. And she never struck me as nice. Lots of left wing spite there.
March 9, 2026
Net zero driven energy costs are closing all sorts of industry in the UK. Driven by a zealot who can’t see reality. Until we abandon this nonsense it will continue.
All to save <1% of global Co2. If we achieve that, no one will notice, as China's emissions continue to rise. And of course we now have the added emissions boost of war in the Middle East.
We could soon run out of gas and oil. Yet there's masses of it under the sea and land. But Ed, he say NO!
March 9, 2026
The government that taxes me on dividends and interest charges nothing to wealthy foreigners and corporations.
So much for taxing the rich.
March 9, 2026
Steel is a strategic resource it is unimaginable that the UK could prosper without a reliable source of supply within National control.
March 9, 2026
Yes the politics of clowns, and not just Labour one’s.
March 9, 2026
It wouldn’t be possible in World Market terms to produce recycled steel in the UK, for 2 reasons the World is awash with it and as you say Lord Redwood the UK Energy policy not only prohibits it an a cost basis but fights it in a political ideology basis.
The battle for security and sustainability is with the Whole of Parliament not just their chosen Government, they just appear to hate the idea of a UK with a vengeance.
March 9, 2026
When it comes to our resources it seems that Starmer has only one thing on his mind; SURRENDER!
It would be interesting to see the computations in his mind that has led him to so many dismal conclusions. They must involve so many things that socialists see as sacred, as well as things that attach pain and wrong doing to Britain’s colonial past. No wonder he can’t get anything right.
March 9, 2026
For decades Netanyahu has attempted to involve the Americans in a war against Iran. He sees the Ayatollah regime as an existential threat to Israel. Should they get a nuclear weapon Iran certainly would be, not only to Israel – but to the rest of the infidel world.
Religious fanatics are not rational people. Neither are those enamoured of the anti-net zero, pro fossil fuel lobby religion – one cannot counter their Trumpian spurious arguments with facts.
This is not going to be a short war. Elevated oil prices (controlled by the global cartel) will be here for a very long time. Nothing in the petro-states funded right wing press today from net stupid Tice and his anti-swans Reform limited company, nor from his lickspittle Farage. About how much damage high oil/gas prices will do to our economy. Again.
We need the small modular reactors designed by Rolls Royce to be rapidly installed. We need much more onshore wind, solar, battery storage and greater investment in tidal energy, of which these islands have an un-exploited abundance. The only way to energy security in this country is via domestic nuclear and renewable sources. Forget the N Sea, we have already sucked it dry
March 9, 2026
Some / a lot of right-wingers aren’t actually right-wingers at all. But pretend to be right-wing to act all macho and tough (little-insecure, boy syndrome who have never grown up). Dick Cheney and Rumsfeld are perfect examples of this. They were like two insecure, school-yard bullies, trying to act tough. Who frightened little George Bush into going to war and enticing Blair into the war as well (who in turn enticed our so-called ‘right’-wing media and politicians – besides the left-wing media and politicians already on his side – in the LEFT-wing wars of Afghan and Iraq 2 (left-wing because: 1. They have cost billions to the British tax-payer in unnecessary bills 2. More importantly, over 500 of our great British military were killed in the wars and many more maimed). ]
What makes someone truly right-wing – in best sense of the word – is their LONG-term RESULTS – not how much they huff and puff about how right-wing and tough they are (words are cheap – long-term results are not).
March 9, 2026
It’s a short war. It’s all over bar the shouting. The new Supreme Leader apparently mostly resides in London in a very impressive looking place, pictured on X.
March 9, 2026
@SG. I don’t think a nuclear armed Iran would be any more of a threat than North Korea, Pakistan and most other nuclear powers. If they used a nuclear weapon they would be destroyed in the counterstrike, and they know it.
Since 1979 they have never acted suicidally. I don’t believe they would act so in the future, unless they were facing anihilation. Same thing with all other nuclear powers (one hopes). I think it far more likely the US or Israel will use nuclear weapons (against a non-nuclear foe) than a nuclear armed Iran.
March 9, 2026
Also, why is Condoleezza Rice being an ‘expert’ on Iran when she pushed for the fairly disastrous wars in Afghan and Iraq 2. She speaks from pure hubris (and in my mind is more of a left-wing academic type – living in her head – whilst trying to be right-wing macho). She should shut up and get out of the scene on this.
If there is a case to be made for war with Iran, then the Republicans need to turn to people who weren’t involved in Afghan and Iraq 2 – and then we listen to the case fairly and objectively without jumping to emotions or ideology or conclusions beforehand.
March 9, 2026
Do you understand the vast cost of battery storage (capital, finance, losses in the process, fire risks and depreciation) – it is often not really worth storing! Best way to stort it is as coal, gas, oil, nuclear fuel or wood then generage is needed!
I think high prices will prob. not last that long but we shall see.
“Religious fanatics are not rational people” indeed but we have laws to protect the religious from being upset but not to protect rational views!
“Religious fanatics are not rational people” tell Theresa May, Ed Miliband, Boris, Cameron and the green party!
March 10, 2026
Add the cost of rebuilding half of Glasgow to ‘battery storage’.
These lithium fires are genuinely terrifying.
We are going to have to ban lithium.
Reply No official confirmation it was a battery fire.
March 10, 2026
The Norwegians are still sucking on the North Sea and are doing very nicely out of it.
So could we, if we weren’t governed by deluded idiots.
March 9, 2026
At its core the situation is compounded and distorted by the outflow of UK Taxpayer money propping up foreign tax regimes. A lot of people perversely were up in arms when POTUS started looking for balance in what is termed reciprocity.
The UK Parliament closed down quality steel manufacture in the UK (out of spite?). The steel is still required; it is still produced by tradition methods. But, for the UK to produce much needed, submarines, warships and rail infrastructure all using taxpayer money it is purchased abroad. ‘Balance of Payments’? Reduction in World emissions?
Here in the UK despite massive taxpayer handouts to the foreign owners of UK facilities, were these owners pay their taxes in foreign domains. The fundamental flaw, the home nations of these companies protect their home markets, the UK would not at any stage be permitted to own similar in those countries. Reciprocity? None existent.
March 9, 2026
Seemingly there is only one nation that the UK deals with that treats the UK equally and that is not the EU that is the USA.
BA(e), is able to manufacture and trade in the USA without hindrance, in fact the USA defence department buys more from them than the UK’s MOD does. Likewise Rolls Royce, their largest facility in the World is in the USA with billions of dollars in orders from USA defence department (B52 etc)
In the UK Parliament has stuck to moving UK’s industrial and defence industry off-shore. A UK submarine can’t take to the water without the French Government say-so, the steel for its manufacture the electronics for them to operate, need French Government approval. UK tanks are British in name only, maintained and updated in Germany. The UK was recently banned selling Typhoon jets by orders from the German Government( they were give a veto power) to Turkey. The much applauded ‘Strom Shadow’ missile might have a bit of tech that started life in the UK but it is a French produced product.
In the last week this Parliament has handed over £1billion of taxpayer money to the Italian Government to produce helicopters for the Navy.
The ‘Big Deal’ the UK has the people the know-how and the resources to be self sufficient in its own right but the UK Parliament ‘bans’ it. Then we have the real costly crunch the ‘Reciprocity’ these countries that now own, run our defence, our companies, do not permit foreign ownership. They protect their industries.
The UK parliament by design and seemingly out of malicious spite, is fighting the ability for the UK to be able to stand on its own two feet. The UK Parliament enhances this stance by ensuring an outflow of UK taxpayer money to Foreign States that will never return and contribute to the UK
March 9, 2026
“This government just loves giving money away to foreign governments and companies.”
Not just this government but all governments for the last 3 decades or more because the country is run by the Civil Service and the judiciary. As a result of PM May putting Net Zero into law our energy policy is ultimately decided by judges and not engineers and by thus by design has become an enormous benefit to China. As for foreign policy remember that it was Lord Gus O’Donnell who, when Cabinet Secretary, said in 2011: “When I was at the Treasury I argued for the most open door possible to immigration … I think it’s my job to maximise global welfare not national.” And what about the Chagos Islands giveaway with a very large dowry? Socialism depends upon making and keeping people poor.
March 10, 2026
And keeping some people rich who can’t earn the money in the usual way.
Do you think these manic ‘give always’ have a kickback clause?
March 9, 2026
Why could the Government not let the company go bust. They could then pick up he assets for pennies from the Official Receiver
March 9, 2026
The government would waste no time turning the assets into liabilities.
March 9, 2026
Proverb 29.18 – Where there is no vision, the people perish.
This Labour Government is a perfect example of that proverb; what an absolute shambles they are. Their unerring ability to make the wrong decision, or no decision, or a decision that harms the UK is incredible.
Steelmaking is essential for a free country, as is energy security, defence security, and food security, to the extent that can be achieved. In all those areas, Labour are going in the wrong direction. Equally, they are well on the way to bankrupting the UK by handing out money to anyone except UK taxpayers. I will guarantee they don’t spend their own money in the same careless, casual way they spend taxpayers’ money! Let’s not give a penny to any Chinese company or the EU, with immediate effect.
March 9, 2026
@SG. Yes, they have reacted to being attacked by the world’s most powerful armed force, which killed their spiritual leader while negotiating a deal. The US leader has told them he will force regime change by massive bombardment, and will only accept unconditional surrender.
What would we expect them to do?
They seem to be putting up a remarkably sane resistance, for “mad” mullahs. They targeted an oil pipeline in Azerbaijan, too. It supplies 30%-40% of Israel’s oil. Sensible targeting. Closing the Straight of Hormuz puts international and domestic pressure on Trump. Sensible strategy.
We have no idea where this will end.
March 9, 2026
I think Blair – who called for Afghan and Iraq 2 and now calling on Starmer to attack Iran is INSANE and/or engulfed in HUBRIS.
Sure, it might be the right thing to do. But we don’t need to take lectures from Blair who was behind the fairly disastrous wars of Afghan and Iraq 2. Instead, we need someone with no involvement in these past wars advising the PM and the rest of us.
March 9, 2026
75 ‘illegal immigrants’ invaded the UK 8th March 2026 …
March 9, 2026
I’ve just read that the ship which the PM wanted to send a day after the beginning of the action by the US-Israeli forces was undergoing maintenance that required wielding. That obviously produces sparks and all weapons and ammo are unloaded from a ship when such work is required. Then all have to reloaded.
So is the PM responsible for decades of under-investment (‘the so-called peace dividend’) in the UK military?
March 10, 2026
But we do spend a fortune on Defence, £20 billion pa more than Israel.
When Starmer said he would stop the boats, we did not think he meant the RN!
March 9, 2026
the official government response to the oil situation from the war is to tell us all to “drive less”, oh how I laughed. what a fantastic ruling class we have.
March 10, 2026
…..and double down on net-zero !!!!!
March 9, 2026
Then again France is flush with money, some from the UK taxpayer. So today to rub it in by protecting French interests and those nations that import oil, Macron is ending 11 warships and 50plus aircraft to keep the straights of Hormuz open to shipping.
The UK? Cant send the carrier as suggested by TTK, there are ships available to protect it. Racheal Reeves with a shrug of her shoulders says we will have to pay more for ‘oil’ so it will cause inflation to rise.
Macron, had a chance to embarrase the UK. He didnt have to, TTK and the UK Pariliament have done it first…
March 10, 2026
Well, they are in the Med. Quite close to Cyprus by now. Plenty of white flags on board!
March 10, 2026
In view of this brilliant display by the UK Navy I wonder whether the Australians are still happy with their AUKUS?
March 18, 2026
Hi lord john
Thus is a change of subject but maybe you don’t know that 30 migrants have disappeared from the Ramada Hotel in sutton coldfield and British passports are being delivered every week for the illegal migrants They have also destroyed the interior of the hotel there are very large skips packed with the furniture they have smashed up my local MP Andrew Michell is supposed to be checking the hotel but I don’t think he has a clue what’s going on
Reply If you have evidence of crimes you should report it to the police.