Council Members
Secretariat
Guest Authors
The budget was singularly lacking in ambition when it came to the government’s role in creating a sustainable, inclusive and investment-led recovery.
There was no new green stimulus despite the UK facing a £100bn funding gap to reach its net-zero by 2050 target and despite its hosting of the global COP26 climate change summit this November.
“I am highly sceptical about this story of ‘pent-up demand’. A shrinkage in national income by 10% implies a fall, not rise, in national saving. Saving out of income may go up, but income itself is lower. That’s why it’s not like in a war, when you have full employment and rising wages, but less to spend money on. “
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