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[Doctor Blind]

Twelve years ago the UK Labour government published A green new deal.

It's recommendations were:

• Government-led investment in energy efficiency and microgeneration which would make 'every building a powerstation'.
• The creation of thousands of green jobs to enable low-carbon infrastructure reconstruction.
• A windfall tax on the profits of oil and gas companies - as has been established in Norway - so as to provide revenue for government spending on renewable energy and energy efficiency.
• Developing financial incentives for green investment and reduced energy usage.
• Changes to the UK's financial system, including the reduction of the Bank of England's interest rate, once again to support green investment.
• Large financial institutions - 'mega banks' - to be broken up into smaller units and green banking.
• The re-regulation of international finance: ensuring that the financial sector does not dominate the rest of the economy. This would involve the re-introduction of capital controls.
• Increased official scrutiny of exotic financial products such as derivatives.
• The prevention of corporate tax evasion by demanding financial reporting and by clamping down on tax havens.

This was brought back as a proposal in the Labour manifesto in 2019 along with many of its pledges also being matched by the Conservatives - and has recently been picked up and developed by the socialist wing of the Democratic party in America.

Could the recent shock to the oil price and unprecedented intervention in the market by the government be an ideal opportunity to finally pursue these policies and promote more sustainable transport and energy production?

As of tonight the UK will have gone 60 days without using coal to generate power, more than triple the previous longest such period without using coal in the national grid since its inception in 1882.

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