UK faces crisis of wages and costs; Labour and Conservatives clash over public spending for green investment
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Britain's wages and cost of living are in crisis, needing public investment to upgrade energy systems and create jobs. This would reduce vulnerability to global markets.
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Conservatives have reversed position on needed spending, while attacking Labour's pledges, wrongly claiming spending raises inflation.
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Evidence shows government borrowing for investment has little inflation impact if near 2% target. The BoE expects inflation to fall in 2023.
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Delaying green investment forgoes economic benefits of energy savings and jobs. The case strengthens amid high energy prices.
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Labour may fear spending attacks, but evidence clearly shows public investment is needed to address Britain's challenges.