Larry Elliott describes the \”triple crunch\”.
Climate change, expensive oil/energy and the imbalance in the UK\’s economy. His solution?
Choice three: bring human ingenuity to bear by investing heavily in new forms of low-carbon green growth while at the same time negotiating a binding global climate change deal. Tough, expensive, and open to the objection that green growth is pie in the sky.
Well, OK, I\’m with the first five words of that answer.
For it\’s the answer to everything. So, how do we do this?
Bureaucrats in Whitehall setting tractor production targets? No, I think not, eh?
How about a bonfire of red tape, so that entrepreneurs can have more room to experiment to find solutions? How about lower taxes, so that money might usefully fructify in such schemes?
Eh, what was that? You don\’t actually trust humans to be ingenious?
Bit of a problem with trying to bring human ingenuity to bear really……