Friday, 13 August 2021

The Value of Nothing?

It is said that some people "know the price of everything and the value of nothing". This adage might apply to the personnel of the UK Treasury. Experts say they are blocking the green policies essential if the UK to achieve net zero 'greenhouse gas' emissions (https://www.theguardian.com/environment/2021/aug/13/treasury-blocking-green-policies-key-to-uk-net-zero-target). The Treasury has reportedly scrapped or watered-down plans for improving home insulation and new essential infrastructure spending etc. Its economists don't seem to take any notice of the a) costs of doing nothing; b) fact that the price of dealing with climate change goes up with delays and c) bad example it sets for the COP26 meeting in Glasgow later this year. Short-termism rules the economy. The Chancellor only gets brownie points, from large sections of the press/some members of his own party, if he is 'fiscally prudent' (i.e. resists expenditure). The trouble is 'you can't take it with you, when you go'. Economies without people, are a waste of time.

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