Sunday, 21 April 2013

UKIP and Tory MEPs are such patriots

This is all very complicated but let's not worry the fine details. The issue is very simple. The UK government has imposed (all by itself – no input from the EU) a new carbon floor price, which came into effect on 1st April 2013. Firms will be charged £16 per tonne of CO2 for fuels used for power generation this year. Europe's emissions trading system (ETS) is the largest in the world and can claim to be driving down CO2 emissions from power stations by 1.74% each year. The European Commission wanted to make adjustments to the ETS. This was expected only to raise the carbon price to the €8-10/tonne figure that existed last September. Note that even with this increase the price is MUCH LOWER than the UK and this puts British firms at a financial disadvantage. Nowadays this sort of thing has to go to the European Parliament. It should be a no brainer that UK MEPs would vote FOR the proposal thus helping UK firms to be more competitive. What happened? The no- brainers in UKIP and the Tories helped DEFEAT the proposal thus harming British industry, and, in the case of the Tories, going against the policies of their own Government. The ETS Carbon price promptly fell to €2. Well done UKIP & Tories – such patriotic action deserves obliteration at the polls.

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