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Nuclear power plants to increase debt problems?

Nuclear power plants to increase debt problems?

- Tuesday, 20 October 2009

The government has drawn up plans to introduce a new tax on electricity bills in order to subsidise the nuclear power industry.

That is according to the Guardian, which revealed on October 16th that the government intended on implementing the levy in order to fund the construction of the UK's first new nuclear reactors for more than two decades.

Increases in household bills could result in a rise in the number struggling to cope with their monthly outgoings and subsequently seeking debt advice.

Matthew Sinclair, research director for the Taxpayers' Alliance highlighted the fact that the tax would only serve to exacerbate the financial woes of those who are most at risk.

He commented: "With the poor and elderly spending the highest proportion of their income on electricity, [the] tax on the worst off needs to be cut, not added to."

Greenpeace has suggested that nuclear power can only deliver a four per cent cut in carbon emissions after 2025.
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