Letter: Ten years ago this week the Lehman Brothers collapse heralded the worst global economic crisis since the 30s, the political, economic and social effects of which are still being felt today. To help ensure that these adverse trends are reversed it is crucial to return a sense of hope for the future, including through economic security for all, while fully protecting the environment. A key part of this should be the urgent consideration and adoption by political parties and local campaigners of a “jobs in every constituency” green infrastructure programme. This would involve making the UK’s 30m buildings super-energy-efficient, accelerating the shift to renewable electricity supplies and storage, and tackling the housing crisis by building affordable, properly insulated new homes. A transport policy would need to rebuild local public transport links, properly maintain the UK’s road and rail system, and encourage a shift to electric vehicles. This approach is labour-intensive, takes place in every locality and consists of work that is difficult to automate – and so could provide a secure career structure for decades. The tens of billions required annually to fund this massive infrastructure programme will require traditional government borrowing at the current low interest rate to help rebuild local economies. Additional finance could come, for example, from fairer taxes and the creation of savings opportunities in local authority bonds and green Isas. Such diverse economic activity would not only improve social cohesion and environmental sustainability but should also make our economy more resilient in the face of any repeat of the economic crisis of a decade ago.
Guardian 9th Sept 2018 read more »
The UK needs to massively step up investment in the green economy in order to provide economic security and “create jobs in every constituency”. That is the core message from the Green New Deal Group, which today marks the 10th anniversary of the collapse of Lehman Brothers with a renewed call for the government to deliver a low carbon infrastructure stimulus package. The group, which is backed by a number of economists, business leaders, politicians, and campaigners, including Green MP Caroline Lucas and environmental campaigner Tony Jupiter, will today publish a new report updating its vision for how the economy could be revitalised through targeted investment in low carbon technology that is also critical for the UK to meet its emissions reduction targets.
Business Green 10th Sept 2018 read more »