A leaked government analysis has found that Net Zero could crash the economy, reducing GDP by a massive 10 per cent by 2030. Yet the spectacular thing about this analysis is that it expects this to happen not if Net Zero fails – but if it succeeds. In effect, it is saying that if the government really does force us to give up petrol cars, gas boilers, foreign holidays and beef, then there would be perfectly useful things left idle: such as cars, boilers, planes and cows. Idling – or stranding – productive assets in this way is an expensive economic disaster.
Even more intriguing was the government’s economically illiterate response to the leak. A spokesman said: “Net zero is the economic opportunity of the twenty-first century, and will deliver good jobs, economic growth and energy security as part of our Plan for Change.”
Do they really think that economic growth is the same thing as spending money? Because it isn’t.
A leaked government analysis has found that Net Zero could crash the economy, reducing GDP by a massive 10 per cent by 2030. Yet the spectacular thing about this analysis is that it expects this to happen not if Net Zero fails – but if it succeeds. In effect, it is saying that if the government really does force us to give up petrol cars, gas boilers, foreign holidays and beef, then there would be perfectly useful things left idle: such as cars, boilers, planes and cows. Idling – or stranding – productive assets in this way is an expensive economic disaster.
Even more intriguing was the government’s economically illiterate response to the leak. A spokesman said: “Net zero is the economic opportunity of the twenty-first century, and will deliver good jobs, economic growth and energy security as part of our Plan for Change.”
Do they really think that economic growth is the same thing as spending money? Because it isn’t.