The UK has just experienced its annual budget announcement from the Government. It contained an extraordinary attack on the eco-agenda, including cuts to energy costs for manufacturers. On the BBC Radio 4 Today Programme this morning, Ed Balls, Labour’s Shadow Chancellor, backed this policy to the hilt. The budget celebrated instead ‘economic growth’ that has been achieved in the last year or so: Balls’s only cavil was that there could have been even more of it.
This GDP growth that is being celebrated by the Chancellor, George Osborne, and seemingly by nearly everyone else, is another unsustainable boom in consumption that is leaving behind those dependent on food banks and the long-term jobless. We will never have a stable, resilient economy, and we will never cease wrecking the planet so long as we chase economic ‘growth’ rather than economic resilience and rely on ‘trickle-down’ economics to look after the poor. In a wealthy country like Britain, we don’t need GDP growth; we need shorter working hours, flexible working, a Living Wage, family life, leisure time and rewarding work.