We need investment now. And People’s QE is the answer

Posted on

Geoff Tily at the TUC has done some fascinating research into investment in OECVD member states. As he shows, for 2014, total capital investment in the UK was 16.6% of GDP; the average across all OECD countries was 20.8%. On this basis the UK is in third to last place, ranking 33rd out of 35 countries, with only Greece and Portugal investing less.

assets_2014_total

The figures are drawn from the main OECD annual national accounts database. They are overall pretty damning, but most especially on transport:

assets_2014_trans

Here we are actually ranked the lowest in the OECD, being so far below average it is ridiculous.

I recommend the whole report. The need is obvious: we need to invest. And we need to do so now. That is why I created the logic of Green or People's QE. As the world heads for an uncertain place we need it, badly. It's a shame that labour no longer says so.