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IEA - Labour’s ‘Green New Deal’ is “a plan for privileged jobs for the few” at the expense of the many

Andy Mayer, Chief Operating Officer at free market think tank the Institute of Economic Affairs, commented on Labour’s plans for a ‘Green New Deal 

“Keir Starmer’s ‘Green New Deal’ is a straight rehash of Jeremy Corbyn’s 2018 plan to ‘kickstart a green jobs revolution’. Spending £30bn to ‘create’ 400,000 jobs costs £75k per job ‘created’. The money to pay for that will likely come from raising taxes.

“When the Spanish looked at this issue in 2009 they found that for each green job supported by subsidies, two to three jobs were destroyed elsewhere. With average UK wages at £30k, this plan would likely do the same.

“The Green New Deal is a plan for privileged jobs for the few at the expense of real jobs for the many. No party that purports to care about working people should support it.

“The only way to deliver economic growth and genuine new sources of employment is by inventing new products and services people want to buy or delivering old products in a better way, including ways with a lower impact on the planet. None of which requires a central plan for jobs from the Government.”

Notes to editors

Contact: Emily Carver, Head of Media, 07715 942 731

IEA spokespeople are available for interview and further comment.

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