Britain Unleashes a Green New Deal to Kill What’s Left of the Economy by JAMES DELINGPOLE for Breitbart
UK Chancellor Rishi Sunak has found an ingenious scheme to ensure that Britain never recovers from the economic damage caused by the lockdown: a ‘green industrial revolution.’
According to The Times of London:
Rishi Sunak is planning a ‘green industrial revolution’ to help to create jobs for people who are made redundant because of the pandemic.
The chancellor is preparing to bolster the government’s investment in clean energy as part of an economic stimulus package next month. There could also be a fund to help to ‘reskill’ workers so they can get green jobs in areas such as insulation upgrades, offshore wind and carbon capture.
The measures are understood to go significantly beyond the Conservatives’ manifesto commitment to create two million jobs in clean energy within the next decade. The Tories have promised to cut greenhouse gas emissions to ‘net zero’ by 2050.
A green industrial revolution is a bit like the original industrial revolution, except for one or two crucial differences: instead of boosting prosperity, creating jobs and stimulating economic growth, it does the exact opposite.
For example, a study by economics professor Dr Gabriel Calzada Alvarez of Madrid’s University of Rey Juan Carlos found that for every ‘green job’ created by the Spanish government, another 2.2 jobs were destroyed in the real economy.
Another study, this time in the UK, found that for every green job created by government ‘investment’ in the renewables industry, 3.7 jobs were destroyed in the real economy.
Sunak’s plan to squander yet more taxpayers’ money on green, crony-capitalist boondoggles is depressing but not remotely surprising.
Dr John Constable, energy editor of the Global Warming Policy Foundation (GWPF), warned that this was going to happen in a short paper published last month ‘The Fatal Attraction of a Post-Covid Green New Deal.’
Constable says that Net Zero – Britain’s answer to the Green New Deal – was ‘deeply unwise’ even before the economic collapse caused by the government’s response to the Chinese coronavirus.
But in the post-Covid-19 world we now inhabit – economies in a state of ‘deep contraction’, against a background of ‘highly significant increases in geopolitical tension’ – it is more foolish still.