Your assumptions on political care factor (or lack of) is well made except for one important point in this instance. The political opponents to the policy are not only the Tories (who, if they actually decided to pull their finger out) could pick enough holes in this to sink it faster than the Bismarck but also the GMB who happen to be Labour’s largest funders.
I’m pretty sure that Labour don’t want to perform yet another flip flop, but there is, nevertheless, an opportunity for a settlement that all vested interests can live with. Such policies usually end up having carve outs and I would be very surprised if the industry isn’t trying to persuade Labour of the merits of investment certainty by agreeing to some middle ground.
HHR Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
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