21 November 2011

How can Osborne get Great Britain plc moving again?

new economics foundation

Josh Ryan-Collins
Senior researcher, Monetary Reform

nef's Josh Ryan-Collins was one of several economists, politicians and business leaders asked to contribute ideas by the Independent on Sunday.

At the heart of the economic crisis is the collapse in private investment, allied to the collapse of the old, inefficient model of growth. To create employment and develop a sustainable economy, the Government should grant the Green Investment Bank the same powers to create loans as other commercial banks. The beefed-up bank would issue bonds to fund the first steps in transforming the British economy, investing in a new generation of energy-efficient housing, backed up by home insulation for the existing stock, overhauling our public transport infrastructure and providing seed funding for community and offshore wind power.

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