Below is a shortened version of an article from yesterday's Guardian by Andrew Simms, author of 'Do Good Lives Have To Cost The Earth' and Policy Director and head of the New Economic Foundation's Climate Change programme. Click on the title to see the full article.
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The UK economy faces a triple crunch: a recession triggered by a major credit crisis, the looming reality of runaway climate change and critical resource depletion. As a result we face serious challenges to our livelihoods and increasing threats to our fuel and food security.
Whatever the mistakes that allowed this situation to arise, there is growing international consensus that the best way out is via a green new deal policy package. Parts of the UK economy are in freefall with unemployment rising rapidly. At the same time, with less than 100 months to go before the world enters a new, more dangerous phase of global warming, there is an urgent need for the rapid environmental transformation of the economy.
A green new deal demands a comprehensive array of new checks and balances on the financial sector and a range of new economic instruments ranging from new bonds to business incentives and taxes.
But what is the government actually doing that is new and additional to stimulate the economy by spending on the environment? Spending included in the green stimulus package of the government's pre-budget report of £100m is astonishingly small compared with other recent spending commitments, at just 0.6% of the UK's £20bn recovery plan. This key element makes up just 0.0083% of UK GDP. In stark contrast, in the wake of the banking crisis nearly 20% of UK GDP has been provided to support the financial sector and the stimulus package allocates £2.3bn to the car industry.
Estimates for necessary new annual spending on environmental economic stimulus and transformation range from £11bn, according to Lord Stern, to £50bn, according to the Green New Deal Group.
With the G20 taking place at the moment, the government needs to understand that true international leadership means putting the UK on course to climate safety. That will deliver inspiration to other countries, make the necessary changes and help ensure the UK's own climate and energy security.
The overwhelming benefits of this course makes the government's reluctance to act hard to understand. How often in politics does a triple win opportunity emerge? If they don't take it, they really are not fit to govern.
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The UK economy faces a triple crunch: a recession triggered by a major credit crisis, the looming reality of runaway climate change and critical resource depletion. As a result we face serious challenges to our livelihoods and increasing threats to our fuel and food security.
Whatever the mistakes that allowed this situation to arise, there is growing international consensus that the best way out is via a green new deal policy package. Parts of the UK economy are in freefall with unemployment rising rapidly. At the same time, with less than 100 months to go before the world enters a new, more dangerous phase of global warming, there is an urgent need for the rapid environmental transformation of the economy.
A green new deal demands a comprehensive array of new checks and balances on the financial sector and a range of new economic instruments ranging from new bonds to business incentives and taxes.
But what is the government actually doing that is new and additional to stimulate the economy by spending on the environment? Spending included in the green stimulus package of the government's pre-budget report of £100m is astonishingly small compared with other recent spending commitments, at just 0.6% of the UK's £20bn recovery plan. This key element makes up just 0.0083% of UK GDP. In stark contrast, in the wake of the banking crisis nearly 20% of UK GDP has been provided to support the financial sector and the stimulus package allocates £2.3bn to the car industry.
Estimates for necessary new annual spending on environmental economic stimulus and transformation range from £11bn, according to Lord Stern, to £50bn, according to the Green New Deal Group.
With the G20 taking place at the moment, the government needs to understand that true international leadership means putting the UK on course to climate safety. That will deliver inspiration to other countries, make the necessary changes and help ensure the UK's own climate and energy security.
The overwhelming benefits of this course makes the government's reluctance to act hard to understand. How often in politics does a triple win opportunity emerge? If they don't take it, they really are not fit to govern.
Green is golden- check out the library !!
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