Socialist Party calls for nationalisation of energy companies

Press Release – 10th September 2008 ‘If the Government can spend billions bailing out the banks, they can bail out hard-pressed families by taking control of the energy sector’ – Peter Hadden The Socialist Party has called on the Government to nationalise Phoenix Gas and Northern Ireland Electricity in response to “the completely unjustifiable price increases, which are solely designed to protect the profits of these monopolies.”

Peter Hadden, Regional Secretary of the Socialist Party, echoed calls made by unions at the TUC Congress being held in Brighton for “the energy firms to be brought into public ownership and run democratically in the interests of ordinary people.”

Mr Hadden explained “These price increases are a direct result of privatisation. The only thing these companies are concerned about is protecting their profits at the expense of workers already struggling to make ends meet.

“Regulation has been devastatingly exposed as a cover for these companies ripping off working class families. The only way to provide affordable gas and electricity is to bring these companies back into public ownership, and run democratically in the interests of people not big business.”

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