Labour in favour of ‘short term’ nationalisation of energy companies

On the BBC’s Andrew Marr Show this morning, shadow Secretary of State for Business Ed Miliband was questioned about the Labour party’s industrial strategy. 

Asked whether the Labour Party is in favour of nationalising energy companies, Miliband stated, “I think there two options in relation to energy companies that are in trouble: one is to get their customers taken on by other companies, … and, secondly, as a last resort, to say we should have a special administration regime, where it is held in the public sector”.

Miliband stated that this would be nationalisation in the “short term”, before the energy companies would be introduced “back into the marketplace”.

Asked for Keir Starmer’s opinion on the matter, Miliband said: “Keir Starmer … believes in a role for common ownership in relation to energy,” but the shadow Secretary of State insisted that there are lots of different aspects to this.

Miliband finished by stating: “There’s a role for common ownership and we’ll set out at the election what it is”.