BP

‘Fantastic’: What Truss’s allies said about budget that crashed UK economy

Spread the love

https://www.opendemocracy.net/en/liz-truss-kwasi-kwarteng-mini-budget-think-tanks/

[Kwasi Kwarteng’s ‘mini-budget’] announcements were cheered on by a group of secretive think tanks closely connected to Liz Truss and her advisers. After years of lobbying, a Conservative government had finally adopted their proposals to scrap the top rate of income tax, remove the cap on bankers’ bonuses, shelve a planned rise in corporation tax, and pledge a fresh crackdown on unions.

The Adam Smith Institute, where Truss’s political secretary Sophie Jarvis was head of government affairs, said the plans were “a welcome first step to getting the British economy back on track”.

The mood was particularly buoyant at the Institute of Economic Affairs (IEA), whose director general Mark Littlewood greeted the announcement by claiming: “This isn’t a trickle-down budget – it’s a boost-up budget.”

…

None of the think tanks discloses its funders, but the IEA has received donations from BP and ExxonMobil and, along with the Adam Smith Institute and the Centre for Policy Studies, the tobacco industry. The IEA and the Adam Smith Institute have also received millions of dollars from US funders of climate denial.

…

Continue Reading‘Fantastic’: What Truss’s allies said about budget that crashed UK economy

COP26 News review day 8

Spread the love

Obama implores world leaders to ‘step up now’ to avert climate disaster

Barack Obama has called on world leaders to “step up and step up now” to avert climate breakdown, singling out China and Russia for being foremost among countries that are failing to cut planet-heating emissions quickly enough.

Obama said that while progress has been made at the Glasgow climate talks, including significant pledges made by countries to reduce methane emissions and to end deforestation, “we are nowhere near where we need to be at” in cutting emissions and that “most nations have failed to be as ambitious as they need to be”.

…

HSBC led big banks’ charge against climate change action

HSBC coordinated efforts to try and water down action on climate change in the banking sector by seeking to delay a key deadline and scrap mandatory science-based targets for a major net-zero alliance, the Bureau can reveal.

…

Revealed: 1,000 fossil fuel and big business reps at COP26

Nearly 1,000 representatives from the fossil fuel industry, big business and nuclear power companies have registered to attend the COP26 climate summit in Glasgow, according to an analysis by The Ferret.

They include executives from Shell, BP, Equinor, Chevron, Total, Gazprom and other major oil and gas companies, as well as multinational corporations such as McDonald’s, Bayer, Walmart, HSBC, PepsiCo, Nestlé and Microsoft.

There are also delegations from the coal industry, tobacco companies and pesticide manufacturers. Eleven people from two climate sceptic think-tanks have registered for the summit.

…

Wera Hobhouse MP: Tory fossil fuel funding is delaying an end date for fossil fuels

‘As long as we have a Government dominated by vested interests, the UK will make no progress on climate action.’

Wera Hobhouse is the Liberal Democrats’ justice spokesperson and MP for Bath.

To reach net zero, we need an end date for the use of fossil fuels. Yet, the Government is taking us backwards on tackling climate change. Any wonder when they are bankrolled by fossil fuel interests and climate sceptics? As long as we have a Government dominated by vested interests, the UK will make no progress on climate action. 

Earlier this week, an investigation revealed that the Conservative party and its MPs received £1.3m in gifts and donations from climate sceptics and fossil fuel interests since the election in 2019. 

…

How the UK Government is funnelling billions into fossil fuel projects abroad

While spinning itself as a ‘leader’ in fighting climate change, the UK is funnelling billions into climate wrecking fossil fuel projects overseas

…

Continue ReadingCOP26 News review day 8