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

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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.


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