The UK risks losing out to the US and EU in the global race to a net zero economy unless the government takes a “Dragons’ Den approach” to investment.
The Institute for Public Policy Research said Britain needed a “national investment fund” that would back new firms and secure a share of any future profit for the public.
The IPPR said the UK needed its own version of Joe Biden’s Inflation Reduction Act – which offers US federal government subsidies to support clean energy, infrastructure and green jobs – and the EU’s proposed green deal industrial plan.
