Virgin founder Richard Branson wades into FITs debate

Billionaire Virgin founder Richard Branson has backed campaigners fighting the Government over cuts to renewable subsidies.

Today (January 5) Mr Branson said, after his friend and solar campaigner Jeremy Leggett emailed him, we 'must keep' investing in renewables.

The current legal fight between campaigners fighting cuts to the Feed-In Tariff (FIT) and the Department for Energy and Climate Change has split the industry with some now fearing the on-going uncertainty is hitting an already damaged market.

However, Mr Branson, writing on his Virgin blog, said it was an 'absolute necessity' and criticised a current focus on 'short term goals and profits'.

He said: "I believe we must keep investing in alternative fuels to help reduce our Global carbon problem.

"Those fearing economic growth will be stifled by investment in renewables are wrong.

"We should look at these new industries and forms of power as one of the greatest business opportunities of the 21st Century."

Luke Walsh


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