economist

Climate investment is only growth opportunity of 21st century, says leading economist

Spread the love

https://www.theguardian.com/environment/2025/oct/13/climate-investment-is-biggest-growth-opportunity-of-21st-century-says-economist-nicholas-stern

Nicholas Stern, pictured, led a review that concluded climate action would cost less than the damage caused by inaction. Photograph: David Levenson/Getty Images

Lord Stern says fossil-fuelled growth is futile as the damage it causes ends in economic self-destruction

Investment in climate action is the economic growth story of the 21st century, while growth fuelled by fossil fuels is futile because the damage it causes ends in self-destruction, the economist Nicholas Stern has said.

The plummeting costs of clean technologies, from renewable energy to electric cars, plus the healthier and more productive societies they enable, meant investments could simultaneously tackle the climate crisis and faltering economic growth, and bring millions of people out of poverty, he said.

This requires big changes in policies and levels of investment and Stern, at the London School of Economics, acknowledged that the geopolitical environment was currently difficult but he said making the rational argument was vital. The US president, Donald Trump, recently called climate change a “con job” and is backing fossil fuel companies to “drill, baby, drill”.

“I’d say to Trump: ‘You’ve got children and grandchildren – think about the science, think about the risks,’ and I’d give examples about the wildfires in California,” said Stern. “I’d point out to him that his place in Florida is going to be extremely vulnerable to more intense hurricanes, sea level rise and storm surges. The people and places he loves are under severe risk.

…

https://www.theguardian.com/environment/2025/oct/13/climate-investment-is-biggest-growth-opportunity-of-21st-century-says-economist-nicholas-stern

Neo-Fascist Climate Science Denier Donald Trump says Burn, Baby, Burn.
Neo-Fascist Climate Science Denier Donald Trump says Burn, Baby, Burn.
Orcas comment on killer apes destroying the planet by continuing to burn fossil fuels.
Orcas comment on killer apes destroying the planet by continuing to burn fossil fuels.
Nigel Farage urges you to ignore facts and reality and be a climate science denier like him and his Deputy Richard Tice. He says that Reform UK has received £Millions and £Millions from the fossil fuel industry to promote climate denial and destroy the planet.
Nigel Farage urges you to ignore facts and reality and be a climate science denier like him and his Deputy Richard Tice. He says that Reform UK has received £Millions and £Millions from the fossil fuel industry to promote climate denial and destroy the planet.
Continue ReadingClimate investment is only growth opportunity of 21st century, says leading economist

The Chancellor and her expenses before she became an MP

Spread the love

https://www.bbc.com/news/articles/ckg75jr5284o

Rachel Reeves has had a difficult start to her ministerial career.

As well as Labour’s new chancellor taking on the challenges of the UK economy, she has faced tricky questions about her past.

They began with scrutiny of her online CV late last year.

On the professional networking site LinkedIn, the Chancellor of the Exchequer claimed to have worked as an economist at Halifax Bank of Scotland (HBOS) immediately before becoming an MP.

One of those who challenged it was a retired former colleague, Kev Gillett.

In a public post on LinkedIn, which he asked followers to share, he wrote: “Back in 2009 Rt Hon Rachel Reeves worked 3 levels below me. Just facts. She was a Complaints Support Manager at LBG/HBOS. Not an Economist. #factcheck.”

In fact it emerged that she had worked in a managerial role within the bank’s complaint handling department and her LinkedIn profile was updated to remove the claim.

Thin grey line

Rachel Reeves’s online CV exaggerated how long she spent working at the Bank of England

Thin grey line

Gillett also made another claim about Reeves’s time at the bank from 2006 to 2009, writing that she: “Nearly got sacked due to an expenses scandal where the 3 senior managers were all signing off each others expenses.”

Reeves’s team vigorously denied the allegations.

…

https://www.bbc.com/news/articles/ckg75jr5284o

dizzy: I’ve quoted the start of a fairly long article from the BBC by Billy Kenber, Politics investigations correspondent and Phil Kemp, Politics producer. It is the report into their investigation of UK Chancellor Rachel Reeves’ errors in her reported career history and an expenses fraud investigation at her former employer Halifax Bank of Scotland.

Continue ReadingThe Chancellor and her expenses before she became an MP

Chancellor’s ‘black hole’ claim ‘unnecessary and unhelpful’, says ex Bank of England economist

Spread the love

https://news.sky.com/story/chancellors-black-hole-claim-unnecessary-and-unhelpful-says-ex-bank-of-england-economist-13213523

Andy Haldane

Former senior economist Andy Haldane told Sky News that Rachel Reeves’s comments earlier this summer had spooked consumers, businesses and investors.

The chancellor’s claim of a £22bn “black hole” in government finances was “unnecessary and probably unhelpful economically”, a former Bank of England chief economist has said.

Andy Haldane told Sky News’ Politics Hub with Sophy Ridge that Rachel Reeves’s statement in July was a “bad idea” because it generated a sense of “fear and foreboding” just when there was a new-found confidence in the UK.

Ms Reeves made the claim within weeks of taking office in what was widely seen as a warning that her first budget in October would be a painful mix of spending cuts and tax rises.

…

He said: “The black hole event was unnecessary and probably unhelpful economically.

“It’s one thing to reveal a black hole, if that indeed is what it is. But just leaving that to sit for three months I think was a bad idea.”

Asked what the government should have done, he said it was “much better to say nothing until you provide solutions”.

…

https://news.sky.com/story/chancellors-black-hole-claim-unnecessary-and-unhelpful-says-ex-bank-of-england-economist-13213523

Continue ReadingChancellor’s ‘black hole’ claim ‘unnecessary and unhelpful’, says ex Bank of England economist