But whilst the rest of the world is pumping cash into research, the UK spends less than one per cent of gross domestic product (GDP) on developing new technologies. In comparison the US spends three times as much of its national income on green energy.
Spending on research is not, at all at all, the same as spending upon green energy. So, assuming that this isn\’t just an environment correspondent (again!) getting confused by difficult things like sums, this is not comparing like with like.
1% of UK GDP is, umm, £14 billion. That is actually a very large sum indeed to be spending upon research and development. It\’s also about what the Stern Review said we needed to be spending.
On the other hand, 3% of US GDP is $420 billion….and there\’s no way at all that country is spending that much on research and or development. That\’s the roll out, the installation, of actual generating capacity (and even then that looks too large a sum).
Comparing two very different things there: tsk.