Who owns the port of Felixstowe, our biggest container port? How about Thames Water? And ICI? London Electricity, the British Airports Authority and British Steel? Still no idea?
Well, here’s a clue: who owns what used to be the Midland Bank, the Abbey National, the Alliance & Leicester and the Bradford & Bingley building societies and was only a hearbeat away from owning the Royal Bank of Scotland? The Midland is now the Hong Kong and Shanghai Banking Corporation and the Spanish bank, Santander, owns the other now defunct iconic British brands. (On 11 December 2012, HSBC was fined £1.2billion for laundering the monies of the Iranian government and Mexican drug cartels though the USA's financial system)
BAA is also owned by the Spaniards, Thames Water is owned by Australians, London Electricity by the French and ICI by the Dutch. Jaguar and British Steel (now Corus) are owned by Indian investors. As for our biggest reservoir and container port, they’re both owned by the Chinese. In case any of you have forgotten in this bright, shiny new globalist age, that would be the Communist Chinese.
Oh yes, ladies and gents, the treachery is light years deep. It’s not just mass immigration, the EU and expenses scandals, ever since Thatcher came to power in 1979, those we vote for have been selling off what once belonged to all of us at a rate of knots.
Did any of you ever wonder what they may not have felt obliged to sell if they weren’t bunging the African dictator AND India AND, until recently, Red China et al £12BILLION in aid every year?
Our political masters also put around £12BILLION more into the EU budget than they get out. They also spend about £160BILLION every year on benefits! How much of this do you think we wouldn’t have had to spend if we weren’t subsidising huge numbers of first, second and third-generation immigrant jobless? And how much less would we be paying out if our own youth was given priority in the jobs market ahead of Stanislaw-come-lately from the former Communist countries of the East?
How much would we be saving if there weren't so many foreigners within our prison system, 11,127 the last time I looked? (This figure, of course, does not include the second and third generations of ethnically dissimilar types)
Oh yes, the evil done by the global fanatics we vote for is light years deep alright.
The Daily Mail:
“ROUGHLY HALF OF ALL OUR ESSENTIAL SERVICES, FROM WATER TO BRIDGES AND PORTS. NOW HAVE OVERSEAS OWNERS… NOT ONLY ARE FOREIGN COMPANIES OUT TO MAKE FAT PROFITS AS SPEEDILY AS POSSIBLE, BUT THEY’RE NOT AS CONCERNED AS A BRITISH COMPANY WOULD BE ABOUT PUBLIC OPINION. THEY OWE NO PARTICULAR ALLEGIANCE TO THIS COUNTRY, AND THEIR FOREIGN FORTRESSES SHIELD THEM FROM OUR BITTER COMPLAINTS.”And that, ladies and gentlemen, is as telling a definition of the true effects of globalism as you’ll ever find. The top table global villager is an advocate of globalism because of the ‘fat profits’ that can be ‘speedily’ made and the lack of redress available to his victims as a consequence of his non-native status.
“FOREIGN COMPANIES FLOCK TO BRITAIN AND GENERALLY GIVE THE U.S. A WIDE BERTH. Ironically, the first wave of new owners after British power companies were privatised were chiefly Americans. ATTRACTED BY THE LACK OF REGULATIONS, THEY SAW AN OPPORTUNITY TO MAKE EASY PROFITS AND SHIP THEM HOME. THEY BROUGHT WITH THEM U.S.-STYLE REMUNERATION PACKAGES FOR DIRECTORS WHICH TURNED MANY INTO ‘FAT CATS’ OVERNIGHT…
IN THE UK, WE’VE ENDED UP WITH THE WORST OF ALL WORLDS: OVERSEAS OWNERSHIP AND NO REAL ACCOUNTABILITY OR CONSTRAINT ON PRICE RISES…
Thames Water, with 8.5 million water customers, 100 water treatment plants, 290 pumping stations and 235 reservoirs… was snapped up (in 2001) by GERMANY’S RWE, one of Europe’s largest power utilities. By 2005, Thames profits had soared by 30 per cent to £346 million — helped by a 21 per cent price rise for customers approved by the notoriously useless regulator, Ofwat. Yet THAT SAME YEAR, THE COMPANY’S PIPES WERE IN SUCH A BAD STATE OF REPAIR THEY WERE LEAKING 196 MILLION GALLONS A DAY. THE GERMAN OWNERS DID LITTLE TO ADDRESS THE PROBLEM…
The Daily Mail revealed that THE FIVE MEN CONTROLLING BRITAIN’S MOST WASTEFUL WATER COMPANY WERE PAID £20 MILLION A YEAR. And while the average Thames customer’s bill was £265 a year, residents of the chief executive’s hometown — Laren in Germany — paid well under half that amount for a first-class modern network… OVER THEIR FIVE YEARS OF OWNERSHIP, THE COMPANY PAID £1 BILLION IN DIVIDENDS TO ITS MAINLY GERMAN SHAREHOLDERS.
The new, foreign, owner… KEMBLE WATER, CONTROLLED BY AUSTRALIAN INFRASTRUCTURE FUND MACQUARIE, IMMEDIATELY, IT STARTED SELLING OFF SOME OF THAMES’S ASSETS — INCLUDING SOUTH EAST WATER… Remember December 2010, when Britain shivered for days under inches of snow? Unlike other big European airports, Heathrow turned into something akin to a Third World refugee camp as it closed for 48 hours. The BRITISH AIRPORTS AUTHORITY — OWNED BY THE SPANISH COMPANY FERROVIAL — had under-invested in snow-clearing equipment… SEVERAL OF THE LATEST FOREIGN OWNERS OF BRITISH UTILITIES ARE STATE-CONTROLLED. So nationalised companies privatised only a few years ago are effectively in state hands again — though THE STATE IS NO LONGER BRITAIN.
LONDON ELECTRICITY, BOUGHT BY U.S. FIRM ENTERGY IN 1996 FOR £1.3 BILLION, WAS SOLD TWO YEARS LATER TO FRENCH STATE-OWNED EDF FOR £1.9 BILLION. EDF later snapped up two small nearby power distributors and merged them into a new company, EDF Energy. IN 2009, IT WON CONTROL OF BRITAIN’S NUCLEAR POWER GENERATORS, WHICH MEANS THAT THEY’RE EFFECTIVELY OWNED BY THE STATE OF FRANCE.
Three years before — as other nations started to invest heavily in nuclear energy — WE’D SOLD ANOTHER PRIME NUCLEAR COMPANY, WESTINGHOUSE, TO THE JAPANESE. They got a real bargain, as Westinghouse was one of a handful of designers, manufacturers and builders of new nuclear plants around the world. Had we retained it, Britain could have become a leader in a booming sector. But… the $5.4 billion received was seen as a welcome bonus for the Exchequer.
Now, as old plants are mothballed and oil grows more expensive, we’re faced with having to build new nuclear power plants to avoid major power crises. But the only company we have with the expertise to construct them is French — and likely to give other French companies the lion’s share of the work…
It should… be clear by now that selling off our vital services to overseas interests is a risky strategy that takes no account of what might happen in the future. It’s classic short-termism. AND IT’S NOT A STRATEGY THAT’S BEEN ADOPTED BY OTHER COUNTRIES.
In Germany, the massive power generators E.ON and RWE, which also own energy companies in Britain, are regarded as national champions. WITH THE BACKING OF THEIR GOVERNMENT, THEY’VE EXPANDED ALL OVER THE CONTINENT. Moreover, THEY’RE PROTECTED BY ELABORATE AND COMPLICATED LAWS THAT HAVE MADE IT ALL BUT IMPOSSIBLE FOR UK FIRMS TO COMPETE WITH THEM IN EUROPE…
Britain’s energy supplies are also vulnerable to global political rows, particularly since Russia started piping oil and gas across the Ukraine and Europe to UK consumers. Six years ago, it even looked for a while as if the state-owned Russian gas conglomerate Gazprom might be taking over British Gas’s parent company Centrica, gaining access to its 15.7 million UK customers. At the time, the Kremlin was using its huge energy resources as a political weapon by turning off gas taps supplying the Ukraine. If they could do it to the Ukraine, some feared, there was nothing to prevent them doing it to us one day.
TONY BLAIR, WHO PRESIDED OVER THE SALE OF SO MUCH OF BRITAIN’S ENERGY INDUSTRY TO OVERSEAS OWNERS, WAS TYPICALLY UNFAZED BY THE RUSSIAN APPROACH, AND SAW NO REASON TO BLOCK IT…Actually, it wasn’t US who did this, Alex. It was the bought-and-paid-for globalist traitor in Westminster who ‘sold’, often for peanuts, what, just a little while ago, belonged to all of us. However, I will concede that the dumbed-down, drugged-up, slack-jawed and brainwashed Big Brother-watching British moron who, even now, still votes for that traitor, played his part.
THE EASE WITH WHICH A FOREIGN POWER COULD DISRUPT THE NATION’S ENERGY SUPPLIES, BRINGING THE ECONOMY TO A SHUDDERING HALT, IS FRIGHTENING. To date, however, there’s no restriction in place to stop Gazprom buying British Gas — or any other public service company. WITHOUT A THOUGHT TO THE FUTURE, WE’VE SOLD FOUR OF OUR BIG SIX ENERGY FIRMS TO FOREIGNERS WHO VIEW US AS LITTLE MORE THAN A USEFUL PROFIT CENTRE.”
On 13 April 2012, in a Mail column titled, UK for sale: Uniquely in the world, Britain has sold more than half its companies to foreigners. And we are all paying the price, Brummer also told us this:
“Imagine being a tourist in search of the full British experience. Where would you start? Well, you might take a sight-seeing trip around London on a red double-decker bus. You’d possibly visit a quintessentially British store, such as Boots the chemist, Selfridges or Harrods, before having a proper English tea at the Savoy, Fortnum & Mason or the Dorchester. You’d almost certainly go home, via a British airport, thinking you’d seen a slice of the real Britain.OK. Let’s see if you’ve been paying attention.
But, in one sense at least, you’d be totally wrong. THAT BUS YOU BOARDED AT TRAFALGAR SQUARE IS RUN BY A GERMAN COMPANY. BOOTS FELL TO THE ITALIANS IN 2007. SELFRIDGES, FORTNUM & MASON AND THE SAVOY ARE OWNED BY CANADIANS; HARRODS HAS BEEN BOUGHT BY A FIRM BASED IN QATAR; THE DORCHESTER BY ONE BASED IN BRUNEI. AS FOR OUR AIRPORTS, MOST OF THEM ARE NOW RUN BY A SPANISH FIRM...
FOR THE PAST THREE DECADES, THE UK HAS HAD A COMPLETELY RELAXED ATTITUDE ABOUT SELLING OFF ITS ASSETS TO COMPANIES BASED ABROAD.”
Q. Why have the UK’s politicians had this relaxed attitude to selling off OUR assets (most of them belonged to all of us before Thatcher came to power) when, generally speaking, the majority didn’t think much of the idea at all?
A. Those politicians allowed to slither to the very top of the greasy pole, where all the relaxed decision-making takes place, are GLOBALISTS first and foremost. They could not care less about the majority of the nation state’s citizens. They wish to see a globalised world where the indigenous populations of the earth own so litle of their own nation’s wealth that they can be shuffled aside when decisions regarding the country’s future are being made.
In a wholly globalised world, the mega-rich few will own everything, the exponentially impoverished many will own next to nothing. The bought wagtails in the EU, the UN and the increasingly powerless national parliaments, will, of course, also profit handsomely (as they do now) from having followed the global dictat so religiously.
“Even this week, it became clear that the Government is happy to consider letting a Russian firm, THE ONE BEHIND THE CHERNOBYL ACCIDENT, run some of Britain’s next generation of nuclear power stations. In fact, TO DATE, WE’VE SOLD OFF MORE THAN HALF OUR ASSETS TO FOREIGN OWNERS…Brummer keeps on saying things like this. I 'CARE.' He, himself seems to care. I’m sure if the British people really knew what the treacherous botwags at the top of the tree had been doing in their name for the last thirty three years they’d care too. But they don’t. There are too few whistleblowing journalists about telling tales like this one.
In the face of political indifference, FOREIGN COMPANIES ACQUIRED £30BILLION WORTH OF BRITISH ENTERPRISES IN 2009. IN 2010, THAT ROSE TO A VALUE OF £54.5 BILLION.
FOREIGN CORPORATIONS ALSO CURRENTLY CONTROL 39 PER CENT OF UK PATENTS. This is far more than the percentage of foreign-owned patents in the U.S. (11.8), Japan (3.7) or even the European Union as a whole (13.7). At this rate, it’s been said, it won’t be long before we’re all working for foreign companies…
It happened in stages, starting with the removal of regulations on overseas investment by former Tory Chancellor Geoffrey Howe in 1979. This was followed in 1986 by what’s known as the ‘Big Bang’, when a raft of restrictive old practices in the City of London were swept aside. Soon, foreign banks flooded into the City, gobbling up venerable British minnows such as SG Warburg, Robert Fleming and Schroders.
Then came Tony Blair and Gordon Brown, who were so keen to keep in with big business that THEY REFUSED TO BLOCK ANY DEALS — EVEN WHEN THE RUSSIANS EYED UP BRITISH GAS. Indeed, anyone… who dared question the great British sell-off was instantly labelled a xenophobe, out of touch with the reality of the modern globalised economy.
What tipped the balance towards foreign takeovers in the late Nineties and 2000s were three key factors: the cheap cost of borrowing; liberal takeover rules; and the presence of global investment banks in the City, with ready access to the world’s capital.
THROUGHOUT THE BOOM YEARS, THESE BANKS WERE ALLOWED TO WRITE THEIR OWN RULES… Foreign companies took full advantage of all this cheap and easy credit to snap up increasing numbers of great British brands…
THIS HAD A DIRECT EFFECT ON JOBS IN THE UK. Weighed down with often massive debts, NEW OWNERS WERE FAR LESS LIKELY TO INVEST IN THE FUTURE OF THE FIRM AND WERE INSTEAD MORE LIKELY TO CLOSE DOWN FACTORIES AND PLANTS, THROWING THOUSANDS OF BRITONS OUT OF WORK.
Some foreign firms even adopted the practice of making a fast buck by buying a company, stripping its assets and then selling for a quick profit. A classic case was that of the once-great department store, DEBENHAMS, bought in 2003 by two U.S.-based private equity firms. WITHIN THREE YEARS, THEY’D STRIPPED THE FIRM OF INVESTMENT, LOADED IT WITH DEBT AND SOLD IT ON AT A BIG PROFIT. By then, Debenhams was in such an enfeebled condition that it has taken years to recover.
Worse still was what happened to the care homes provider SOUTHERN CROSS, which came crashing down last spring. The company had been pieced together by a hard-headed U.S. EQUITY FIRM CALLED BLACKSTONE, after it started BUYING UP CARE HOMES ACROSS THE COUNTRY. Most of its income was guaranteed, as it came from local authorities. But Blackstone wasn’t prepared to be a long-term owner. Soon, it had hived off many of the freeholds of the buildings to another company, which then sold them off. Then Blackstone made a quick profit by floating Southern Cross on the stock market, collecting £600 million for itself and its wealthy investors…
The aftermath from the sale of Southern Cross was disastrous. When new landlords started putting up rents, local authorities were unable to meet the extra cost. A lack of investment and poor management combined to bring Southern Cross to the brink last year, placing its 750 homes at serious risk. THREE THOUSAND JOBS HAD TO BE CUT FROM THE WORKFORCE, raising questions about the quality of care in the homes… THIS HIGH-STAKES FINANCIAL GAME HAD BEEN PLAYED AT THE EXPENSE OF 31,000 ELDERLY AND VULNERABLE RESIDENTS.
Meanwhile, ELSEWHERE IN BRITAIN, ONE GREAT COMPANY AFTER ANOTHER WAS BEING BLITHELY AUCTIONED OFF — including Jaguar Rover (to India), Asda (to the U.S.), MG Rover (to China), P&O Ports (to Dubai), the British Airports Authority (to Spain), Corus (formerly British Steel, to India), British Energy (to France), and lottery operator Camelot (to Canada)…
As firms fell like ninepins around them, canny chief executives demanded new clauses in their contracts that guaranteed the equivalent of lottery wins if their firms were taken over. They did this by insisting that their share options — usually paid out only after a number of years — could instantly be converted to cash...
Consider what happened after Boots the chemist (Alliance Boots) was sold to the Italian pharmacy king Stefano Pessina and private-equity barons KKR in 2007 for £12 billion. Soon after the takeover, Boots, which had been based in Nottingham for 161 years, moved its headquarters to Zug in Switzerland…
Before the takeover, Boots had paid £89 million in British tax in its final year as a quoted company on the London stock market. Now that it pays its tax in Zug, that figure has shrunk to just £9 million. So the financial rewards from all these foreign takeovers rarely swell government coffers for long.
Hence, as more and more British companies vanish overseas, IT’S THE ORDINARY TAXPAYER WHO HAS TO MAKE UP THE DIFFERENCE — through higher VAT and other taxes... The real tragedy is that NO ONE SEEMS TO CARE WHEN A COMPANY LIKE ICI, THE GREAT CHEMICALS GIANT, DISAPPEARS INTO THE JAWS OF A FOREIGN POWER — taking with it scientific and industrial expertise built up over many decades.”
Oh no, the British people care alright. It’s just that they’re routinely kept uninformed of the reality by those they vote for.
“The 2008 Dutch takeover of ICI was, arguably, far more significant than the sell-off of Cadbury, which caused deep public unease… ICI was vulnerable to foreign interest for two reasons: the lack of Government interest in its possible future and the shareholders’ greed for cashing in… The ICI integration into Holland’s AkzoNobel was far from painless. Within days of the merger, they were jettisoning some of ICI’s assets — such as its adhesives and electronic materials activities, which were sold to a German competitor. Some 29 FACTORIES, INCLUDING SEVERAL IN THE UK, WERE CLOSED, ELIMINATING 3,500 JOBS.
In early 2009, AkzoNobel revealed massive losses of £970 million, largely as a result of buying ICI. More job losses were projected, and a pay freeze was imposed on most of the company’s employees… How ICI itself has fared financially, within AkzoNobel, is now impossible to discern.
But the most significant and worrying loss has been that of a guaranteed skills base. For decades, ICI’s reputation — and its profits — was founded on its ability to develop new products. But once ownership moved abroad, all bets as to the future of such research facilities was off. Indeed, if AkzoNobel sells off further parts of the company, the remaining research laboratories in Slough and Newcastle could well move abroad. After all, NO FOREIGN COMPANY OWES ANY PARTICULAR ALLEGIANCE TO BRITAIN.
This was vividly illustrated when Kraft Foods took over Cadbury in 2009, after promising to keep open the Somerdale factory near Bristol that made Wispa and other chocolate bars. DESPITE THIS PLEDGE JUST ONE MONTH AFTER BUYING THE CONFECTIONER, KRAFT CLOSED THE FACTORY, LEADING TO THE DIRECT LOSS OF 400 JOBS, AND THE INDIRECT LOSS OF OTHERS IN THE SUPPLY CHAIN.
In addition, 160 skilled employees at the company’s Uxbridge headquarters were made redundant, and a further 150 posts are due to go at Cadbury’s historic Bournville factory… The Labour government made little effort to block this unpopular takeover. As for the Tories, David Cameron said at the time: ‘We are an open, global economy. We cannot start creating ownership barriers, trade barriers and protectionist barriers.’
As the economy dipped, Kraft lost no time in squeezing as much income as it could out of its new acquisition in order to pay down debt and please its American shareholders. In March 2010, for instance, CADBURY STAFF WERE TOLD THAT PAY WOULD BE FROZEN FOR THREE YEARS UNLESS THEY AGREED TO OPT OUT OF THE FIRM’S EXPENSIVE FINAL-SALARY PENSION SCHEME.
The arrogant American bosses of Kraft felt immune to criticism — even brushing off politicians’ criticism with disdain. For example, when asked to appear before a Commons select committee to explain the company’s failure to honour its promises, Kraft chairman and CEO Irene Rosenfeld refused. (Rosenfeld is Jewish)BE SPECIFIC, BRUMMER! I presume you count yourself as a patriot. So do I. I love my country and its people. I hate the politicians and businessmen who don’t. The 'less patriotic values' are those demonstrated and shared by these, not by me, you and, I suspect, the vast majority of the indigenous British tribe. Stop implying that WE are responsible for all of this when it is THEY your righteous criticism should be focusing on!
Is this the price that all nations have to pay for an increasingly globalised world? Not at all — in fact, BRITAIN IS UNIQUE IN HAVING SUCH A SUPINE ATTITUDE TO SELLING OFF ITS CROWN JEWELS. Other countries adopt what’s come to be known as ‘economic patriotism,’ which involves putting tremendous obstacles in the path of foreign bids. Take France, for example, which argues that it’s in the national interest to prevent key technologies falling into foreign hands…
There was uproar when the U.S. drinks giant PepsiCo was poised to bid for the French food firm Danone in 2005. In the end, the then President Jacques Chirac declared that the French yoghurt-maker was considered a ‘strategic’ company, so couldn’t be sold to a foreign firm.
Similarly, Spain has worked hard to hold on to its energy companies, for example, thwarting a bid in 2006 by German energy group E.ON for Endesa. Yet a year later, because of less patriotic values in Britain, a Spanish company was easily able to buy our own Scottish Power.”
As previously stated, those who still vote for the traitor and his many treasons bear some responsibility but they have the excuse of ignorance. They do not know what we, the traitors and their global masters know. The truth has been kept hidden from them. Get the bestial few, Brummer, not the unthinking many! He continues:
“In Japan, selling a company over the heads of management is unthinkable. And while India has bought UK enterprises such as Jaguar Rover, IT WON’T ALLOW BRITISH FIRMS TO TAKE FULL CONTROL OF ITS OWN COMPANIES. As for the U.S., THE COUNTRY WHICH PORTRAYS ITSELF AS A ‘CHAMPION’ OF FREE TRADE WON’T PERMIT FOREIGNERS TO BUY U.S. AIRLINES OR TV COMPANIES.For f***'s sake, Brummer, it isn’t OUR love affair, it’s THEIRS! The politicians are owned by the global elite. So much of which body is comprised by the banks, bankers and the shareholders of the banks! It is THEY who ‘cheerfully… auction off’ our national assets NOT US!
Oil is also jealously guarded: China’s state-owned oil company, for instance, was prevented from purchasing struggling U.S. oil firm Unocal in 2005... Why do we cheerfully continue to auction off everything from nuclear power generators (to the French — and now possibly the Russians) to our most popular chocolate brand?
The chief reason lies in OUR continuing love affair with banking and financial services, which still provide a large slice of our tax revenues.”
After wagging my finger at Mr B for the umpteenth time, I must admit he has a point. The majority’s abject refusal to make any effort to find out what is really happening is pretty damning. The politicians would never have gotten away with what they’ve done to us over the course of the last century if enough of us had bothered to do our homework. But we didn’t. So now everyone has to suffer.
The children and grandchildren of those who are still casting their votes for treachery will still be picking up the tabs for the laziness and stupidity of their forbears when they, themselves, are long gone.
On 6 February 2012, The Guardian's Julia Fellowes told us this:
"Insurance has become the latest industry to end up in foreign hands. Much of it has been quietly taken over by overseas firms without anyone batting an eyelid, the only exception being the sale of Aviva's RAC breakdown service to US private equity giant Carlyle last year...On 18 September 2011, Edward Malnick and Robert Mendick said this in The Telegraph:
THE MAJORITY OF BRITAIN'S GENERAL INSURANCE COMPANIES... ARE NOW FOREIGN OWNED. The report, UK Financial Services: Ownership, Value and M&A Developments, produced by IMAS Corporate Finance on behalf of TheCityUK and UK Trade & Investment, found that 55% of the largest insurance groups, valued at over £100m, are owned by overseas firms, many of which are listed in the US.
OVERALL, 153 GENERAL INSURANCE FIRMS IN THE UK ARE CONTROLLED BY OVERSEAS INVESTORS. The US is the top foreign investor accounting for over 40%, followed by Bermuda with 12%, Japan and Germany. The five biggest foreign-owned general insurers in the UK are Axa, Allianz, AIG, Aegis and Munich Re... Aviva sold RAC to Carlyle for £1bn last June... while US-based Hanover snapped up Lloyd's insurer Chaucer for £313m.
For insurance brokers, it was an unusually quiet year, though. The one big deal was US broking giant Gallagher buying Heath Lambert, the 170-year-old Lloyd's broker."
“Two thirds of wind turbines in the UK are owned by foreign companies, raking in half a billion pounds in subsidies added to household bills. A Sunday Telegraph audit of Britain’s 3,419 turbines reveals 2,276 are either fully or partly-owned by foreign businesses.Alex Brummer ended his 13 April 2012 Daily Mail article thus:
The findings demonstrate how companies from around the world are benefiting from generous incentives offered by the Government to meet carbon reduction targets. One Danish company owns or part-owns three offshore wind farms that receive almost a hundred million pounds a year in subsidies from British consumers.
Critics say foreign firms are profiting from the Government’s indifferent approach to higher bills for households, but the Coalition insisted its incentives are ‘broadly in line’ with other EU countries and that investors are instead attracted by Britain’s windy climate.
Other big winners in the scramble to make money out of Britain’s wind include energy companies and investment funds in Japan, the US, Norway, Sweden, France, Spain, the Netherlands and Germany. Among them are a Tokyo-based investment company, which earlier this month bought a large slice of a 48-turbine offshore wind farm off the coast of Essex, a cruise liner company based in Oslo, and a Luxembourg-based firm which owns eight turbines on the land of Sir Reginald Sheffield, the father of Samantha Cameron.
Some of Europe’s biggest energy suppliers, such as EDF, are also among those cashing in, despite make billions of pounds in annual profit. The subsidised, known as Renewable Obligations Certificate (ROC) payments, come on top of the money wind farm owners make from selling electricity, and are proportionate to the amount of energy produced. Last year the scheme, which also provides incentives to other renewable sources such as hydroelectric power, handed out over £1.1 billion in revenue.
Offshore wind farms, which are more expensive to build and maintain, are paid up to double the onshore rate. Calculations by the Renewable Energy Foundation think tank on behalf of this newspaper show that, from next year, ROC subsidies to wind farms owned or part-owned by foreign firms will total £523 million. That figure is set to rise steeply in the next decade as the Government attempts to meet its carbon reduction targets in 2020.
The disclosures follow recent estimates that the switch to green energy adds an average of £200 a year to household energy bills, which are due to rise even further this winter. On Thursday French-owned EDF Energy announced its electricity tariffs will increase by an average of 4.5 per cent and gas prices will go up by 15.4 per cent from November 10.
The Renewable Energy Foundation said that THE GOVERNMENT’S ‘INDIFFERENT’ APPROACH TO CONSUMER COST MADE THE UK AN ATTRACTIVE TARGET FOR INVESTMENT in wind.
Dr Lee Moroney, Planning Director of the Renewable Energy Foundation, said: ‘Target-driven and generously-subsidised growth in the UK renewables sector was always likely to attract INTERNATIONAL INVESTORS SEEKING RAPID RETURNS AND A PROMPT EXIT. The real concern is that HAVING MADE HANDSOME PROFITS FROM THE UK ELECTRICITY BILL PAYERS, THEY WILL MOVE ON LEAVING THE UK WITH SUBPRIME AND DISTRESSED ASSETS’…
A spokesman for RenewableUK, the trade association for the wind industry, said: ‘THE LIBERALISED ELECTRICITY MARKET BROUGHT IN BY MARGARET THATCHER HAS MADE THE UK A GREAT PLACE TO DO BUSINESS… it’s no surprise that companies from overseas would want to invest here…’
The biggest overseas winner is Dong, a Danish company which has a large stake in three offshore wind farms that will make a total of £98m in subsidies and has a 50 per cent share in the development of the 175-turbine London Array offshore site.
Spanish-owned ScottishPower has 21 wind farms in the UK comprising over 500 turbines, which would entitle it to an annual subsidy of £80m. ScottishPower, whose parent company is Iberdrola, also has a share of a 103-turbine wind farm at Llandinam in central Wales together with Eurus Energy UK, a subsidiary of Tokyo-based Eurus Energy Holdings Corporation, which entitles the companies to share a subsidy worth £3m – a relatively low figure because the turbines are outdated.
Another Japanese company, Marubeni Corporation, paid Dong £200m to become co-owner of Gunfleet Sands wind farm on September 1. Vattenfall, the Swedish energy company, owns three wind farms and is entitled to an annual payment of £84m under the ROC scheme. Fred Olsen, the Norwegian company that also runs several cruise liners, owns four wind farms in the UK comprising a total of 130 turbines – meriting a subsidy of £34m.
AN EIGHT-TURBINE WIND FARM ON THE LAND OF SIR REGINALD SHEFFIELD, THE PRIME MINISTER’S FATHER-IN-LAW, EARNS A £2M CONSUMER SUBSIDY. The ownership of the turbines is registered to a UK company, Bagmoor Wind Ltd, whose ‘ultimate controlling company’ is Ridge Wind Holdings Sarl, based in Luxembourg.
The Swedish company Vattenfall and Nowegian Statkraft, whose UK turbines produce a £86m subsidy are both state-owned businesses. A spokesman for Fred Olsen added that all profits earned by the company in the UK over the last 10 years have been reinvested in this country. A Department for Energy and Climate Change spokesman said… ‘We are an island nation with the best natural, secure, sustainable and free wind resource in Europe, so it’s no surprise that major global firms want to invest and build in the UK’.”
“From the late Eighties onwards, governments have viewed the banks, which arrange and finance all these overseas deals, as a sort of universal economic panacea. AT ALL COSTS, IT SEEMS, THE BANKS NEED TO BE KEPT HAPPY. And since much of their money comes from buying and selling companies to the rest of the world, the British sell-off seems destined to continue unabated.Yep, bankers, foreign shareholders and their enablers in the Westminster village are all ‘doing just fine.’ The ’outlook' isn’t at all ’bleak’ for the thieves who, as we speak, are robbing us of even more of what our ancestors willed to us. Our birthright is now in their wallets. That’s who your enemies are, ladies and gents. That’s who’s at war with us. That’s who wants us destroyed. That’s who wants us gone.
The banks know their power, too. American Bob Diamond, who took over Barclays in 2011, let it be known that he’d consider moving the bank’s highly profitable investment banking arm from Britain to New York if it became, as he saw it, over-regulated or over-taxed. And HE’S BY NO MEANS THE ONLY BANKER MAKING VEILED THREATS BEHIND THE SCENES. As matters stand, trying to protect UK companies is like attempting to guard chickens in a coop to which foxes have been invited. IN THE REAL WORLD, AWAY FROM THE GILDED ENVIRONS OF THE CITY, THE TRAGEDY IS THAT TENS OF THOUSANDS OF JOBS HAVE GONE. CRUCIAL SKILLS HAVE BEEN LOST — PROBABLY FOR GOOD. AND THE STRATEGIC HEART OF BRITISH MANUFACTURING HAS BEEN RIPPED OUT…
Still, the outlook isn’t all bleak: BANKERS AND FOREIGN SHAREHOLDERS ARE DOING JUST FINE.”
That is who you vote for.
Wikipedia tells us this:
“Qinetiq is a British multinational defence technology company headquartered in Farnborough, United Kingdom…42million invested in 2001, £299m - £361m profit five years later. With a ton of unearned cash for ‘senior managers’ to boot.
In 2001, when Defence Minister Lewis Moonie announced the creation of Qinetiq, he said that it would remain a British company based in the UK… In February 2003, the U.S. private equity firm the Carlyle Group acquired a 33.8% share in the company for £42m…
Ennobled in 2005, Lord Moonie who handled the initial sale, said in 2006 that the government's 31 per cent stake in Qinetiq should not have been sold when equity markets were languishing in 2002. He said that he had argued for the sale to be delayed but was overruled by the Treasury who had convinced the Ministry of Defence to go ahead.
Qinetiq was floated on the London Stock Exchange in February 2006... the Carlyle Group's holding £341m – £403m, and staff/management's holding worth £143m – £169m. Controversy was generated by the very large returns for the Carlyle Group and senior managers.”
In 1998, former Prime Minister, John Major, (you know, that 'nice Mr Major') joined Carlyle Group's European Advisory Board.
He was appointed Chairman of Carlyle Europe in May 2001.
Work it out.