Infamy! Infamy!

So, why has the government made such a paltry offer? There are three reasons, I suggest.

The first is that this idea was first mooted as a spoiler to neuter a Labour proposal, which I think might well have been influenced by the proposals the Green New Deal Group has made. There was never any real government commitment to this idea.

Second, the government does not want this scheme to work. They only believe in private sector solutions, and this scheme could show the public liked state sector ones.

Third, they really do not want to raise too much money. In 2015 George Osborne offered a bond that raised £15 billion and crashed the NS&I web site, so popular was it. If the 1% we recommended had been made available this time I think that would have happened again. But that might than have also shown the public wanted to save for green projects, and that is a message the government does not want relayed. In that case they have priced this to fail.

They’ve all got it in for me!

An alternative explanation is indeed possible. As Spud has been known to point out people actively desire to save green. To know that their savings are going to make the world a better place. Which means they’ll happily buy green bonds at a lower rate of interest then, doesn’t it? And if they won’t buy at a lower interest rate then they don’t preferentially invest green, do they?

6 thoughts on “Infamy! Infamy!”

  1. “Second, the government does not want this scheme to work. They only believe in private sector solutions, and this scheme could show the public liked state sector ones”

    Saw an interesting YouTube video on the development of the R100 and R101 airships.

    Whilst both were funded by HMG, R100 was built by private firms – it was known at the time as “The Capitalist Airship”. R101 was built by the British Air Ministry and was known as “The Socialist Airship”.

    R100 went on to do a successful cross Atlantic and return trip. R101 crashed and burned on its first attempted overseas journey, killing 48 of the 54 on board. It was trying to get to India, it got as far as France.

    Despite being of completely different designs, the government ordered the grounding of R100 before deciding to break it up and sell it for scrap.

  2. “…a Labour proposal, which I think might well have been influenced by the proposals the Green New Deal Group has made.”

    His pathological desperation to claim credit for as much as he can is quite pathetic.

  3. I thought we were already paying through the nose for green shit via the climate change levy on gas and electricity – with an increase on the gas levy on it’s way. That’s apart from the massive subsidies for solar farms and wind turbines. The govt is floating the idea of tax on meat and road pricing so we know that it will appear any day soon.

  4. In 2015 inflation was close to zero and George offered a one year bond at 2.8% or 4% for a three year bond. Were they to now offer £15 billion of bonds at those effective rates the uptake would crash the website irrespective of it being a “green” investment or one purposly aimed at speeding global warming.

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