The one way to reduce debt is to spend – says the Green New Deal

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The Green New Deal group was in the Guardian this morning:

One of the justifications for the coalition's cuts is the pretence that they are needed to pay for more infrastructure projects (Editorial, 27 June). Yet the emphasis on new roads and HS2 will be cost-escalating and take money away from the kind of local infrastructure spending that would result in economic activity nationwide. This in turn could be fairly taxed and so get rid of the need for cuts, while helping rescue our flagging economy.

Tens of billions spent on low-carbon infrastructure and affordable housing would generate jobs, business and investment opportunities in every city, town, village and hamlet in the UK. Making every building in the UK energy-efficient and repairing, maintaining and improving the public transport system could prioritise the use of UK manufacturers. A crackdown on tax dodgers would make billions available to pump prime such an initiative. The result would be a reduction in public debt through a programme that improves society, the environment and the economy – the very opposite of the present cuts.
Colin Hines
Convener, Green New Deal Group

Quite so.