Labour plans for utilities would cost the UK £200bn, saysCBI

Party says calculation of renationalisation costs is 'incoherent scaremongering'

Labour's plans for a sweeping renationalisation of utilities would cost Britain almost 200bn, the Confederation of British Industry has said.

Branding the plans as "eye-watering", the nation's foremost business lobby group, which represents some companies that would be put into state ownership under a Labour government, said the project would add to the UK's debt levels and could come with costs to pensioners and savers.