Keir Starmer Used Dodgy Figures to Claim 4,000 New Jobs. In Fact, It’s Only 400

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https://novaramedia.com/2025/06/04/keir-starmer-used-dodgy-figures-to-claim-4000-new-jobs-in-fact-its-only-400/

A conceptual rendering of the proposed AI datacentre. Image: Northumberland County Council

Does he think we’re stupid?

When Keir Starmer announced the creation of a £10 billion AI datacentre at Blyth in Northumberland last year, it was with a promise that the site would bring 4,000 jobs to the north-east of England.

For an ex-mining town, once home to two coal power stations, this was welcome news. The area had been let down once before: the new “artificial intelligence datacentre” will open on a site once destined to host Britishvolt, the startup planning to employ 3,000 people making batteries for electric vehicles that collapsed spectacularly in 2023.

However, it has since emerged that the true figure for job creation is closer to just 300 to 400 permanent staff, a tenth of what Starmer promised. Other media outlets have noted the yawning gap between Starmer’s hype and the disappointing reality. But the apparent willingness of the government to launder dodgy figures provided by the PR machine of a rapacious private equity firm has not been scrutinised – until now.

When asked in January by Labour MP Chi Onwurah what the evidential basis for the 4,000 claim was in a parliamentary question, Chris Bryant, a minister in the culture and science department, said that it had been supplied by Northumberland County Council.

However, in a freedom of information request seen by Novara Media sent by Foxglove, a legal campaign group monitoring big tech, the council revealed that that source was in fact Blackstone, the vampiric US private equity giant behind the data centre’s construction. The 4,000 figure came from Blackstone’s “evidence of the anticipated job creation numbers” put forward in the planning application.  

Martha Dark, Foxglove’s co-executive director, said that Starmer had either “willingly promoted US Blackstone-owned developer QTS’s PR spiel on jobs, in effect laundering the dubious credibility of the claim through association with his office – or he didn’t know the claim came from them.

Article continues at https://novaramedia.com/2025/06/04/keir-starmer-used-dodgy-figures-to-claim-4000-new-jobs-in-fact-its-only-400/

Keir Starmer commits to play the caretaker role for Capitalism through the "hard times".
Keir Starmer commits to play the caretaker role for Capitalism through the “hard times”.

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Continue ReadingKeir Starmer Used Dodgy Figures to Claim 4,000 New Jobs. In Fact, It’s Only 400

North Sea oil and gas assets a risky bet for private equity, think tank warns 

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North Sea oil rigs in Cromarty Firth, Scotland. Credit: joiseyshowaa (CC BY-SA 2.0)
North Sea oil rigs in Cromarty Firth, Scotland. Credit: joiseyshowaa (CC BY-SA 2.0)

https://www.energymonitor.ai/finance/corporate-strategy/north-sea-oil-and-gas-assets-a-risky-bet-for-private-equity-think-tank-warns/?cf-view&cf-closed

North Sea oil and gas production is expected to plummet in the coming years, as renewables become increasingly competitive. Now, a new report by the think tank Carbon Tracker argues that private equity companies invested in North Sea (UK and Norway) oil and gas assets are particularly vulnerable to losses as demand falls. Private equity’s presence in the North Sea has grown steadily since the 2014 oil price crash. 

In 2010, just 8% of North Sea assets were held by private companies, with the remainder owned by publicly listed oil majors and state-owned utilities. Currently, 29.7% of North Sea equity licences are held by current or former private equity-backed ventures, according to recent analysis from the Common Wealth think tank. 

Carbon Tracker argues that while all upstream investors risk being saddled with stranded assets as demand for hydrocarbons falls, private equity companies are particularly vulnerable. For starters, the private equity industry is already facing “serious headwinds” as the low interest rate environment that “buoyed private markets” for the last decade “has, at least temporarily, come to an end”. 

https://www.energymonitor.ai/finance/corporate-strategy/north-sea-oil-and-gas-assets-a-risky-bet-for-private-equity-think-tank-warns/?cf-view&cf-closed

Continue ReadingNorth Sea oil and gas assets a risky bet for private equity, think tank warns