Green economy could add 0.5% to GDP says CBI

A recent report by the CBI1 (Confederation of British Industries) highlights the importance of the green economy and its potential in making the UK a leader in low carbon products and services. John Cridland, CBI’s Director General said, “The so-called “choice” between going green or going for growth is a false one. We are increasingly hearing that politicians are for one or the other, when in reality, with the right policies in place, green business will be a major pillar of our future growth.

With something like a third of all our growth accounted for by green business last year, the UK could be a global front-runner in the shift to low-carbon. In the search for growth, we’re digging for goldmines – and one of them is green.

Get our energy and climate change policies right, and we can add £20bn extra to our economy and knock £0.8bn off the trade gap, all within the lifetime of this Parliament.”

Even in the current climate the green economy is worth £122bn a year, 8% of GDP and grew at 4.7% and delivered a third of the UK’s growth in 2011.

This is completely at odds with Chancellor George Osborne’s statement in October 2011, “We’re not going to save the planet by putting our country out of business”.

I would rather accept the view of the CBI than an increasingly out of touch politician who has no real business experience or even doing a proper job!

1. The Colour of Growth: Maximising the Potential of Green Business, Confederation of British Industries

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