Labour leader promises to nationalise Britain's entire energy network.

Jeremy Corbyn says its necessary to avert global "climate catastrophe."

Recent polling shows widespread support for nationalising public utilities.

However, business leaders remain solidly opposed to Labour's agenda.



LONDON — Jeremy Corbyn will nationalise all of Britain's energy companies in order to avoid the "climate catastrophe" threatened by global warming, the Labour leader said today.

Corbyn used his appearance at his party's "alternative models of ownership" conference in central London, to promise that he will buy up Britain's entire energy network.

"The challenge of climate change requires us to radically shift the way we organise our economy," he said.

"In 1945, elected to govern a country ravaged by six years of war, the great Attlee Labour Government knew that the only way to rebuild our economy was through a decisive turn to collective action. Necessary action to help avert climate catastrophe requires us to be at least as radical."

The Labour leader said his government would be part of a "wave of change" in favour of nationalising public utilities across the world.

"We can put Britain at the forefront of the wave of change across the world in favour of public, democratic ownership and control of our services and utilities," Corbyn said.

"From India to Canada, countries across the world are waking up to the fact that privatisation has failed, and taking back control of their public services.

The Labour leader raised the possibility of local communities being told to produce their own energy, which would then be hooked up to the national grid.

"The greenest energy is usually the most local," he said.

"But people have been queuing up for years to connect renewable energy to the national grid. With the national grid in public hands, we can put tackling climate change at the heart of our energy system. To go green, we must take control of our energy."

Corbyn's announcement follows his similar calls to nationalise the railway network and other utilities.

Recent polling has found high support for Labour's agenda. A Populus poll, commissioned by the Legatum Institute last October, found that 83% of the public supported nationalising water providers, while 77% supported nationalising the electricity and gas networks and 76% supported nationalising the railway network.

However, business leaders today dismissed Corbyn's announcement as "missing the point."

"Labour’s calls for nationalisation continue to miss the point," Neil Carberry, CBI Managing Director for People and Infrastructure, said,

"At a time when the UK must be seen more than ever as a great place to invest and create jobs, these proposals would simply wind the clock back on our economy.

"If Labour turns its back on good collaboration between the government and the private sector, public services, infrastructure and taxpayers will ultimately pay the price."

The Conservatives said Labour's plans would cost taxpayers hard, citing research by the conservative think tank the Centre for Policy Studies.

"Independent reports show Labour’s renationalisation plan will cost taxpayers billions and lead to worse services for people," Liz Truss, Chief Secretary to the Treasury, said.

"Labour would put politicians in charge of running everything from the phone lines to electricity supply, meaning people have nowhere to turn when things go wrong. That didn’t work last time and won’t work this time."