Monday 22 January 2024

Environmental Investment Versus Pork Barrel Politics?

A London School of Economics (LSE) paper entitled 'Boosting growth and productivity in the UK through investments in the sustainable economy' seems highly pertinent. In the UK, both growth and productivity are clearly lagging. The LSE paper says the UK government should invest circa £26bn per year on energy infrastructure; new technology (e.g. Artificial Intelligence) innovation and maintenance of the country's natural environment. Its authors think it likely government investment would generate about twice as much investment from the private sector. It would also pay-off in higher productivity; efficiency savings; economic growth and carbon reductions (https://www.theguardian.com/environment/2024/jan/22/uk-should-invest-in-green-economy-instead-of-tax-giveaways-lstudy-shows). The government 'alternative' of a pre-election spend on 'tax giveaways', wouldn't, say the LSE team, boost the UK's flagging economy. UK folk are not especially heavily taxed and many of the services that people rely on, appear on the verge of collapse. Investment or bribes? Simples!

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