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UK should invest in green economy instead of tax giveaways, study shows

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on The Guardian or enjoy below:

🗞️ Driving the news: Leading economists, including Lord Nicholas Stern, have advised the UK government to invest £26bn annually in a low-carbon economy
This investment in energy infrastructure, transport, and innovation, including AI, is expected to boost the UK's economy and provide twice as much private sector investment

🔭 The context: This recommendation comes as a contrast to the current government's plans, which focus more on tax giveaways and risk continued economic stagnation
The advice aligns closely with Labour leader Keir Starmer's commitment to investing £28bn annually in a green prosperity plan

🌍 Why it matters for the planet: Investing in a low-carbon economy is crucial for reducing carbon emissions and tackling climate change
This approach can lead to sustainable economic growth and position the UK as a leader in green technology and innovation

⏭️ What's next: The debate over the best fiscal strategy for the UK's future prosperity continues

💬 One quote: "The UK has been underinvesting for the last 45 years... Public investment must be stepped up if we are to achieve net zero, restore nature and compete with countries around the world," (Shaun Spiers, executive director of the Green Alliance thinktank)

📈 One stat: The proposed investment represents an increase in public investment of roughly 1% of GDP

Click for more news covering the latest on green tech

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