Monday 5 September 2016

Leave it to the system

So now we begins to understand how is it that certain European companies seem to be able to embark on projects which are beyond the reach of British companies, such as  the proposed building of the nuclear power plant at Hinkley Point. 
On the one hand the financial backing comes from China which is a country where it's business' is fuelled by taxpayer funding from the State. 
On the other, EDF, the French energy company which designs and builds these massive projects is also heavily subsidised by the French State and is, to all intents and purposes bankrupt if it were not for the State propping it up.
 If this were not enough,  it has been revealed, that Mario Draghi the EUs, ex Goldman Sachs wunderkind, the magician who with slight of hand can turn a set of financial rules and regulations into a process to finance the legally un-financeable is, in this instance printing money to specifically support certain strategic companies, such as EDF so as to  justify the economically unjustifiable. It's a pity we play by the rules. The concept of providing 'national help' to ailing industries is an anathema. Our preferred course of action is that only when the company has gone up in flames will we consider enrolling its workforce on welfare !!!

It's no wonder Hinkley will go to the resourceful French/Chinese combo when we are still mired in privatising the NHS and the BBC. Our ministerial energies are better spent putting these recalcitrant home grown treasures in their place than developing the capital and technical resource to ensure the lights stay on !!It's a topsy-turvy world when real issues like the decision to build an extra runway at Heathrow take years, or a Nuclear Power Station even a Nuclear Submarine to carry Trident is kicked into the long grass until it becomes critical. Aircraft carriers built to a spec that cannot, under the current aircraft we have, fly these aircraft off the new ships.


 Alice in wonderland would be confused at our attempt to convince ourselves that spending £60 billion on a high speed link to Manchester to save for a limited number of business commuters, half an hour on their travel time, whilst deliberately ignoring the benefit of the uninterrupted computer catch up time which rail travel provides.
I could go on but then I am but a plebeian, a commoner who doesn't understand the workings of high enterprise, still less the people who populate these enterprises !!
Leave it to the system !!!

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