Proceeding contribution from Rob Marris (Labour) in the House of Commons on Wednesday, 5 July 2006. It occurred during Debate on bill on Finance (No 2) Bill.
Finance (No. 2) Bill
I quite agree, and that is what I am trying to find out. Whether we talk about existing nuclear power stations or a new group—what the industry tries to dress up as a fleet—we have to look at the question of dealing with spent materials, radioactive waste and so on. That is particularly true of the radioactive waste that we already know exists, because it is here, and the waste that we know will be generated in the next 13 to 15 years, until 2020, the life of the current nuclear power stations. The Nuclear Decommissioning Authority is a Government body, but as the hon. Gentleman points out, it uses British Nuclear Group as a subcontractor for site management, clean-up and so on, and BNG is likely to be privatised in the next 12 months. I would like to know whether there are any tax breaks for the existing nuclear industry because that must inform the public debate about the future—or lack of future, whichever it may be—of nuclear power stations in the United Kingdom. One thing that the nuclear industry has historically been very good at is getting hidden subsidies. I am not sure whether clauses 99 and 100 are indicative of that; I want to find that out. It already has a hidden subsidy through the cap on its public liability insurance, because given the liabilities it would be almost impossible, even with reinsurance—the hon. Member for South-West Bedfordshire (Andrew Selous) knows a great deal about that and could correct me if I am wrong—to get insurance cover at a premium that would make a nuclear power station viable. There has to be an indirect state subsidy on those liabilities. Clauses 99 and 100 may or may not speak to that, and I wish to find out more.
Secondary information
- Type
- Proceeding contribution
- Reference
- 448 c885-6
- Session
- 2005-06
- Chamber / Committee
- House of Commons chamber
- Subjects
- Accountancy Companies Decommissioning British Nuclear Fuels Corporation tax Computers Climate change levy Fraud EU countries Income tax Film Exemptions Excise duties EU internal trade Income Equipment Investment trusts Nuclear Decommissioning Authority Nuclear power stations Property Registration Tax allowances Tax avoidance Taxation VAT Real estate investment trusts
- Legislation
- Finance (No. 2) Bill 2005-06
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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