Whilst the major parties are squabbling over how to pay for the long term care of the elderly and talk of a black hole of 6 billion, Richard North tells us that Gordon Brown ( with full support from David Cameron and Nick Clegg) has just quietly spent £600 million buying carbon credits.
Buyers used by the government will earn:
..typically 15 percent or more of the selling price in commissions – giving them a £9 million tax-funded bonanza....
Each government department will be billed separately for the carbon credits they use, which will include the Ministry of Defence. It will have to divert millions from front-line troops in Afghanistan, to cover the emissions from defence buildings, including those in Germany where our Nato troops are based.
We all make mistakes. The organisers behind the Copenhagen climate jamboree made lots of them and they are playing with other people's money. Jon Moulton, often described as a venture capitalist, has made two notable mistakes, he failed to win control of the Rover Group and lost control of the private equity company, Alchemy Partners, that he founded in 1997. However, Moulton puts his own money into his work and such is his skill and success that he attracts funds from other investors, almost £150 million so far. His latest company is called Better Capital and has been running for less than a month.
Gordon Brown struts upon the stage at C
arbonopenhagen with the delusional hope of leaving his legacy as a world statesman who helped save the world, twice. Hugo Chavaz gets a standing ovation, Robert Mugabe is cheered whilst Viscount Monckton is knocked unconscious by a Danish policeman, see Anthony Watts.