Britain | Green loots

Labour’s green industrial policy will not cure Britain’s economic ills

Trying to fight climate change and raise growth risks doing neither well

A maintenance team works on a turbine at the Beatrice offshore wind farm near Wick, Scotland on Nov. 27, 2022. Oil and gas workers, losing their jobs as fossil fuel investment wanes, find work in the wind energy business. (Francesca Jones/The New York Times)Credit: New York Times / Redux / eyevineFor further information please contact eyevinetel: +44 (0) 20 8709 8709e-mail: info@eyevine.comwww.eyevine.com *** Local Caption *** 15770497 — Image: Eyevine

Apr 27th 2023

Britain is going green. The country tends to be found towards the top of international league tables for emissions reductions, even after accounting for imports, thanks to copious offshore wind and a swift transition from coal to natural-gas power plants. Such success has not, however, translated into obvious economic rewards: productivity has been near-stagnant for 15 years and wages have failed to keep up with inflation. Fighting climate change has not held Britain back but it has not unleashed its economy either.

This article appeared in the Britain section of the print edition under the headline “Green loots”