The Sage and his buddy, Hines, insist that folks really would just love to invest, through bonds, in the green revolution.
However, experts warned the bonds would return £700 less than rival accounts. Investing £20,000 in the market’s top paying three-year fixed-rate bond, the 1.81pc offered by JN Bank, would earn £232 more in interest in the first year than NS&I’s green bond.
Martin Lewis of MoneySavingExpert, a consumer advice website, said: “The Chancellor must really hope that the nation is wearing green trousers as the rate being offered is pants.
“This is quite simply not an account that those whose focus is maximising interest will look at – it’s likely only something those willing to sacrifice substantial interest in order to support what they hope will be green causes are likely to consider.”
So we’ll find out, won’t we? After all, no economic theory survives first contact with the marketplace unscathed.
As you have mentioned her before, expressed preferences and revealed preferences.
Show people:
a.This is how much it will cost = X
b.This is what difference it will make = Y
and let them decide*.
*”Another £500 quid on my electric bill for a 0.0002c reduction in global temperature? Are you mad?”.
And don’t bother with any of this, “we will lead the world” bollocks, ‘cos they ain’t following.
Among lemmings, “leading the pack” is a lifetime activity.
Will The Sage ™ be investing?
NS&I bonds are government-backed, whereas JN Bank (who?) aren’t. Perhaps I’m horribly racist, but the thought of investing with Jamaica National Bank doesn’t inspire confidence.
Well, maybe I’d accept 700 quid less to know I WASN’T investing in green bonds. But perhaps not.
Apparently 80% of the three year bond market offers better rates
NS&I also plan to pay the interest in one lump at the end of the three years which is maximising the government’s tax take – funny old thing
So, this should be a good test for the virtue signallers
“So, this should be a good test for the virtue signallers”
And an interesting one.
My suspicion is the result of all this relentless propaganda is the majority think everybody else should be green & think they mostly are & want other people to think they are. But the actual choices THEY make are in their own self interests. It’s the same as the Covid restrictions. The majority were in favour of the restrictions. On other people. When it came down to themselves, their personal interests took priority. Their reason for breaching them was “important!” See Handycock.
If I was running the Green Savings Scheme I’d be passing out nicely made little badges with the amount invested engraved on them. Virtue signalling fashion accessories. Bit like driving a Prius or Leaf
@Andrew M – Yes, you must be horribly racist as they’re (like all banks operating in the UK) protected by the FSCS compensation scheme and, of course, foreign banks never fail anyway (https://www.fscs.org.uk/news/fscs-news/book-closed-on-2008-banking-crisis/ – oops!). Nor do British ones (Northern Rock – oops! again).
I lived in Hong Kong when BCCI happened. It made a change to have a bank fail instead of a patisserie or a wedding hire shop. 😉
Piss on all Green Marxist bullshit. It pays only by thieving subsidies and arrogant tyranny. We should watch for any who invest in green freakery and then take ALL of the dozy bastards money as well-deserved punishment.