JOHN Swinney is right in issuing a warning over Keir Starmer’s GB Energy plans, as it is confirmed in the Labour Party’s “make Britain a clean energy super power” briefing that the primary function of Great British Energy is to transfer risk from private sector investors to the public sector.

In the section on GB Energy, it says: “Its initial priority will be to co-invest in leading-edge energy technologies where this can de-risk and unlock private sector investment.”

READ MORE: John Swinney issues warning over Keir Starmer's GB Energy plans

GB Energy could get under way very quickly, without having to raise large sums of money to fund public investment, if the New Labour government co-invest by having the City arrange government underwriting of private investment.

Labour could then postpone large-scale public investment “until the country can afford it” when the economy has recovered from years of Tory government.

John Jamieson
South Queensferry