Left-Wing Resolution Foundation Blames Net Zero for ‘Unprecedented’ Productivity Decline – Guido Fawkes

Left-Wing Resolution Foundation Blames Net Zero for ‘Unprecedented’ Productivity Decline

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The left-wing think tank Resolution Foundation has issued a new report attacking the UK’s ‘unprecedented’ productivity decline, which it says saw a 0.5% slump between 2019 and 2024. This runs counter to the ONS’ figures. Interestingly even Resolution’s wonks are pointing the finger a net zero…

The report compares the UK and the US – the only G7 country to see productivity growth accelerate during the 2020s. According to the think tank, the US has benefited from a “continued boom in oil and gas extraction,” with oil production up 8% and gas by 13% by 2024. Meanwhile, the UK’s oil production plummeted by 44%, and gas fell by 27%, as North Sea reserves continue to dry up. The Resolution Foundation argues that the UK’s sharp productivity drop is also linked to the decline in “mining and quarrying” output, with “falling output and sticky hours” weighing heavily on the UK economy, while the US saw its mining and quarrying sectors “soar.” Naturally the Resolution foundation calls for a series of tax hikes which, through complicated mental gymnastics, will somehow help the UK’s productive output. Not the first time a left-wing think tank has hit out at the green dream…