Mark Carney did, in effect, call for a Green New Deal yesterday, suggesting that was the direction in which new investment that the economy needs if it is to recover should be headed.
I could quibble with some detail but agree with the broad thrust of his arguments.
Will Philip Hammond take note and deliver the investment the OECD also says he must promise in his Autumn Statement? I am not optimistic. Dogma will force him to deny both need and reality, I fear. And if that happens we are in trouble.
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Anyone who denies that putting money into the econonmy now would be useful must be a moron. Even the OECD seems to be advocating this now, telling us that the economy is not tanking. The private sector will not do it on its own that’s for sure. And then whatever activity is keeping us afloat at the moment may just peter out without any Governemnt stimulus. We shall see.
You believe that government should create lots of money for government to spend on green projects.
OK, I can see your point.
However, Carney called for government to create markets in which private capital can spend lots of money on green projects.
What you are saying and what Carney is saying are surely quite different. No?
It will come to the same thing
Sometime they will have to realise the markets will never deliver