Green investment: The prudent choice for prosperity

Think tank: IPPR

Author(s): Sam Alvis; Luke Murphy

December 16, 2022

This report from UK think tank IPPR looks at how to increase public spending on climate and nature at speed to maximise economic opportunities.

The UK drastically needs to reduce carbon emissions and address biodiversity loss. Meanwhile, the public, staring down the barrel of soaring costs and economic headwinds are looking for tangible improvements to their everyday lives and local environments. In the recent autumn statement, the chancellor set out the government’s plans to respond to the turmoil from October’s mini budget. He outlined significant tax rises, new fiscal rules limiting borrowing, and significant cuts to public services from 2025. Within this changed political and economic context, the politics of the 2010s with a narrow focus on debt is threatening a return. This paper sets out how to increase public spending on climate and nature, at speed to maximise economic opportunities and ensure ongoing public support.