Scrapping business rates and introducing a two-rate property and land tax and redistribute the proceeds more fairly across the country. In other words - taxing rentiers more than renters for commercial properties and doing so in a phased manner. Proposals here 👇👇
neweconomics.org/2023/11/a-ta...

You can read more on our @neweconomics.bsky.social ew proposals for reform of property taxes here. Our aim should be to help level the playing field by curbing equity-rich investors’ ability to gobble up more homes 👇👇 neweconomics.org/2023/11/refo...

But the rubbishing off of wealth tax and fixation on fiscal rules will only impede his project of national renewal. This will have to change or decline and stagnation will force him to change.

All this is welcome stuff but big q as always is, will it survive elections, price shocks and Treasury fiscal orthodoxy? Its hard to say.

But for now, it’s a blueprint worth taking seriously. More detailed deep dive once I've actually read the full pack.
@neweconomics.bsky.social

Alongside this, a new Clean Energy Workforce Strategy is due this summer. Some addnl funding (£100m+ for technical skills); new technical excellence colleges, an “Energy Skills Passport” for oil & gas workers to move into clean jobs and Union involvement explicitly supported.

But who pays for this? The govt plan is to use rising revenues from the UK Emissions Trading Scheme.
As carbon prices rise, ETS income rises—and that pays for lower bills.

ETS carbon prices are indeed projected to rise⬆️, from ~£45 today to ~£100+ by 2030–35. But we also know these are v volatile!

The headline change? From 2027, the govt will:

Remove policy levies like RO/CM (£35–40/MWh)
Offer network charge relief (~£14/MWh)
Maintain Climate Change Levy discounts

This will cut industrial electricity prices but all else being equal, they will still remain high compared to EU median.

The idea of not picking winners was always myopic. The strategy targets key sectors like
⚡ Offshore wind
⚛️ Nuclear
🔥 Heat pumps
💨 Hydrogen
🛢️ Carbon capture
🌐 Grid infrastructure

These 'frontier sectors' get targeted investment, planning reform, and support.

Some useful diagnosis that sets the context:
❌ Past policy was too short-term
❌ Market signals alone didn’t build resilient supply chains
❌ UK industry has been hamstrung by high energy costs

The latter has captured all the headlines and rightly so as elec prices are highest in UK for industry.

not surprised, just didn't seem clear from the very beginning. now it is.