UK business group condemns Labour nationalisation plans, Brexit delay

Plans by Britain’s opposition Labour Party to nationalise utilities including the country’s electricity grid will damage investment as well as hurting many small shareholders, one of the country’s main business groups warned on Tuesday. Last week, Labour published plans to renationalise the country’s 60-billion-pound energy networks, taking companies such as National Grid, Scottish Power and SSE into public ownership.Utilities warned this would damage investment, and on Tuesday the Confederation of British Industry’s president, John Allan, said he feared the impact would spread beyond the businesses directly affected.

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