Time for a National Investment Bank

Posted on March 21 2011

Robert Skidelsky and Felix Martin call for the creation of a National Investment Bank in the FT this morning.

Call it the mechanism to fund a Green new Deal if you like.

Provide it with its capital out of a compulsory 25% investment pension funds should make out of their tax funded income that they should invest in new employment creating opportunities.

And that's it: a policy for growth.

One that is bound to deliver the result we need in our economy, for growth, for unemployment, for tax revenues, for closing the deficit.. It's not hard.

But Osborne won't do it.

Why not? Is it he doesn't want growth?

And doesn't want to tackle unemployment?

Or deal with the dficit?

All because he hates tax revenues so much?

It's hard to explain any other way.

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